Data Room Services provides virtual data room in connection with the sale and purchase of the Frankfurt OpernTurm

Seller of the exclusive property is a joint venture of Tishman Speyer and UBS

Frankfurt, February 1st, 2011 - The sovereign wealth fund GIC of Singapore and an institutional fund advised by JP Morgan acquired the 168 m tall OperTurm in Frankfurt. The purchase price for this landmark property and the respective shares of the two buyers were not disclosed. The tower, which is located in the middle of Frankfurt's financial district, was sold by a joint venture comprised of a fund managed by Tishman Speyer and the Swiss major bank UBS.

The attractive office tower has 42 floors and a total area of 67,200 square metres. In addition, the building features top-quality interior finishing and unobstructed views, as well as a high level of energy efficiency. Currently 95% of the property is leased out.

In the course of the transaction, the parties used a virtual data room provided by Data Room Services as platform for the due diligence. It enables an unlimited number of users to securely and continuously exchange highly sensitive transaction-relevant data. In addition, the entire question and answer process was handled through Data Room Services' Q&A management platform. This unique technology allows for a well-organized and efficient processing of all questions and answers, instead of the usual flood of unstructured e-mails, faxes, telephone calls or Excel sheets.