Goodwin Procter’s Seaport home sells for $447M
Deutsche Asset Management has closed on its $447 million acquisition of 100 Northern Ave., a 17-story office building on Fan Pier in Boston’s Seaport District, according to a Suffolk County deed.
The 516,000-square-foot commercial office property is home to Goodwin Procter, Boston’s second-largest law firm.
The 100 Northern office was the fifth completed building in The Fallon Co.’s Fan Pier development area, which also includes the Vertex Pharmaceuticals headquarters at 50 Northern Ave. and 11 Fan Pier Blvd.
Deutsche Asset Management is the real estate investment management arm of Frankfurt, Germany-based global financial firm Deutsche Bank. The firm, which until last year operated as Deutsche Asset & Wealth Management, has $53.6 billion in assets under management.
The Business Journal had reported in September that the office was on the market, with HFF brokering a sale.
Goodwin’s Frankfurt Office Moves to Expanded Space in Central Banking District
Goodwin, a leading Global 50 law firm, announced today the relocation of its Frankfurt office to TaunusTurm, a recently developed 40-story office tower located in Bankenviertel, the city’s central banking district.
“The move into the TaunusTurm tower reflects Goodwin’s growth and success in the German market following our launch just 15 months ago,” said Stephan Kock, Chair of Goodwin’s Frankfurt office. “Today, we have a robust team of more than 25 specialized lawyers and staff offering high caliber advice on real estate, finance, private equity and tax matters.”
The new state-of the-art office is approximately 17,000 square feet of multi-function space, a significant increase in size from the firm’s previous office, and includes modern design features and amenities. The building is certified LEED® Platinum.
“A strong presence in Germany is an essential component of Goodwin’s strategy to be a dominant player in our key practice areas for the benefit of our clients across Europe, the U.S. and Asia,” said David Evans, Chair of Goodwin’s European offices. “Expanding our office space in Frankfurt and maintaining close collaboration among our real estate, finance and private equity teams in Europe underscores our commitment to providing seamless service to clients on cross-border transactions.”
The new office’s address is: TaunusTurm, Taunustor 1, 60310 Frankfurt am Main. The new phone is +49 (0) 69 6677 38500 and new fax is +49 (0) 69 6677 38600.
Goodwin Frankfurt focuses on client solutions for large, complex real estate and private equity investments and their financing. Practice expertise includes real estate transactions, real estate financing and leveraged finance. The team supports strategic and financial investors as well as companies on tax optimization, acquisitions, restructuring, club deals, private M&A and other company investments. Goodwin’s clients in Germany include Castlelake, Cerberus and Deutsche Pfandbriefbank AG. Over the past year, the team worked on transactions with an aggregative value of approximately €2.5 billion.
This press release is in 2017, the same year Deutsche Bank bought the Boston commercial offices of Goodwin.