LEVERTON Facilitates Brookfield’s Acquisition of Potsdamer Platz
BERLIN, (4 January, 2016) – LEVERTON’s smart data management technology was used by Clifford Chance to assist in the due diligence for Brookfield’s acquisition of Potsdamer Platz in Berlin.
The Canadian company, Brookfield Property Partners LP has announced today that one of its subsidiaries had completed the acquisition.
Potsdamer Platz is home to more than 480 national and international companies, including the Daimler Group and Etihad Airways. The acquired mixed-use property comprises a total of 17 buildings on 10 streets; covering a gross area of about 269,000 square meters. The property includes a mix of seven office and five residential buildings, in addition to two movie theatres, the Potsdamer Platz Arkaden shopping center, a hotel, and over 30 cafes and restaurants.
LEVERTON’s software was used by Clifford Chance to assist in the due diligence process on behalf of Brookfield. The law firm leveraged the smart data platform to extract and manage hundreds of key attributes of the rental relevant lease agreements. Attributes, such as payable rent, payable rented area, expiration dates, and others were automatically extracted with the artificially intelligent algorithms. This enabled the buyer to gain detailed insight with the highest possible transparency over the contracts of the lease agreements.
LEVERTON develops and applies disruptive deep learning / machine learning technology to extract and manage data from corporate documents in more than 20 languages.Our clients from the financial and real estate sectors optimize their contract management significantly, manage operational teams more efficiently and process transactions faster. Asset documentation with an underlying face value of more than €40 billion is managed with LEVERTON’s smart data technology. The integrated smart data platform runs on LEVERTON servers in ISO 27001 and ISO 9001 certified data centers that guarantee highest security.