Drooms Supports Allianz’s Acquisition of the Majority Shares in Frankfurt's Skyline Plaza with a Virtual Data Room
Allianz acquires 80% stake in Frankfurt's Skyline Plaza
Allianz, as part of its goal to increase its retail property portfolio, acquired an 80 percent stake in the retail and leisure centre Skyline Plaza in Frankfurt am Main. The plaza was developed and realised as a joint venture between ECE Projektmanagement GmbH & Co. KG and CA Immo Deutschland GmbH. The amount invested totalled approximately 360 million euros.
The Skyline Plaza offers 38,000 m2 of retail and restaurant space, in addition to a 9,200 m2 fitness and wellness centre.
Due to its high security standards, the Drooms virtual data room was chosen as the platform to execute the sale of the plaza. The usually complicated question-and-answer process was streamlined and managed using the integrated Q&A platform within the data room. With its state-of-the-art technology, Drooms helped to avoid the usual flood of emails, faxes, phone calls, and Excel sheets common to such transactions, and collected and stored all communications in one searchable database.