Press Release

White & Case Advises Commerzbank on Sale of Commerz Japan Real Estate Finance Corporation

Global law firm White & Case LLP has advised Commerzbank AG on the sale of its Tokyo-based subsidiary, Commerz Japan Real Estate Finance Corporation (CJREFC), to leading Asia-focused alternative investment manager PAG.

As part of the transaction, the primarily subordinated loans held by CJREFC, which total around €700 million, are being transferred to the buyer. The portfolio, acquired via PAG's Secured Capital REP V and Pacific Alliance Special Situations funds, will be managed by PAG's Tokyo-based Secured Capital Investment Management.

The White & Case team which advised Commerzbank was led by partners Brian Strawn (Tokyo), Markus Hauptmann and local partner Dr. Andreas Wieland (both Frankfurt) and included partners Ayako Kawano (Tokyo), Dr. Bodo Bender (Frankfurt) and Gary Thomas (Tokyo) as well as local partner Seiji Matsuzoe and associates Kenneth MacKay, Jake Baccari, Yuta Tamaru, Kaori Sugimoto (all Tokyo), Dr. Jan Ole Eichstädt (Frankfurt), Yoko Ueda (Tokyo) and Andreas Kössel (Frankfurt).

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