OFFICEFIRST Immobilien AG acquisition by Blackstone

8 November 2016

To find out more, Contact STJ Advisors

STJ advised on the IPO of OFFICEFIRST Immobilien AG, as part of a dual-track sale process which concluded with the successful sale by IVG Immobilien AG to Blackstone for a reported total consideration of €3.3bn. OFFICEFIRST controls a 1.4 million square meter predominantly office portfolio, the vast majority of which is located in Germany’s top six office markets – Munich, Berlin, Frankfurt, Hamburg, Dusseldorf, and Stuttgart. 

STJ acted as a conduit between the parent company IVG Immobilien, its 8 key private equity shareholders and OFFICEFIRST to build consensus around all key decisions to achieve the successful sale at a value that was favorable to that offered by the public market at the time. The terms agreed were the result of multiple, improved bids during the IPO process, which were enhanced by the advice of STJ including the unique strategy deployed during as well as after the crucial bookbuilding phase.

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