Lincoln International (Special Situations Group) represents the insolvency administrator and the banking pool of Steremat Industrie Aktiengesellschaft in the sale of its real estate assets to Illuninus Group, a Czech real estate investor.
Frankfurt, October 2006 With effective date as of 01 October 2006, the insolvency administrator of Steremat Industrie Aktiengesellschaft has sold the real estate assets of the Berlin-based company to a Czech real estate investor group Illuminus.
Steremat, a longtime Berlin-based company, owns manages an extensive technology and industrial real estate complex in the center of Berlin itself. Based on a strong expansion and the resulting high credit facilities, Steremat had to file for creditor protection and insolvency in 2006. In the course of the sales process, the facility management operations were separated from the real estate portfolio. Based on those measures, a high international interest in the real estate portfolio was apparent.
The acquisition of the real estate portfolio by Illuminus group constitutes a step in the direction of internationalization for the up to date purely Czech-based group. The mid-market position and well-maintained buildings were two of the main investment criteria for this international investor.
About Lincoln International
Lincoln International specializes in merger and acquisition services and private capital raising for leading organizations involved in mid-market transactions. With offices in Chicago, Frankfurt, Los Angeles, New York and Paris, and strategic partnerships with China Everbright and other partner firms in Asia, Lincoln International has strong local knowledge and contacts in the key global economies. The organization provides clients with senior-level attention, in-depth industry expertise, and integrated resources. By being focused and independent, Lincoln International serves its clients without conflicts of interest. More information about Lincoln International can be obtained at www.lincolninternational.com.
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