With a team led by Dr. Stefan Proske, Partner at its Berlin office, Heuking Kühn Lüer Wojtek represented a syndicate of banks, led by Landesbank Hessen-Thüringen, in insolvency proceedings on the assets of Narat GmbH & Co. KG and advised it on the sale of seven office and commercial properties to EQT Real Estate.
In May 2015, fund company Narat filed the application for insolvency proceedings, which were initiated in September 2015. In January 2016, Narat's creditors approved the sale in form of a competitive international bidding process. In the sale process, insolvency administrator Dr. Michael Jaffé collaborated with corporate consultants Ziem & Partner and Jones Lang LaSalle.
The seven properties in Technology Park Cologne comprise an area of 116,000 square meters. The purchase price was 188 million euros. Tenants include Daimler, Ford Bank, the Federal Office of Administration, and the Federal Center for Health Education.
Counsel to bank syndicate
Heuking Kühn Lüer Wojtek:
Dr. Stefan Proske (Lead, Insolvency Law)
Dr. Benjamin Kurzberg (Banking and Capital Markets, Insolvency Law), both Berlin
Dr. Guido Hoffmann, LL.M. (Banking and Capital Markets), Düsseldorf