Bird & Bird LLP advised Drooms AG on its investment in DocEstate GmbH. This included the drafting of the shareholders' agreement as well as the overall documentation for the future cooperation.
In a (venture) growth funding transaction, Drooms has acquired a 10% stake in DocEstate. The PropTech company facilitates digital administrative procedures for real estate. This is the first time in its history that Drooms, the leading provider of digital platforms for real estate assets in Europe, has invested in a German PropTech company, thereby helping to drive forward the digitalisation of the real estate industry in Germany.
Drooms and DocEstate have been collaborating since January 2020. The DocEstate service will now be integrated into the Drooms Virtual Data Room (VDR), which means that users will be able to request and receive information from the real estate authorities directly in the VDR. With this integration, Drooms offers its customers an all-round service and takes the next strategic step in terms of digitalisation and connectivity in the real estate sector. Users can now map another part of the entire asset life cycle directly in the data room.
Drooms AG was advised by the following Bird & Bird lawyers: Partner Dr. Hans Peter Leube, LL.M., (lead), associates Michael Maier and Tamara Böhmert, all Corporate/M&A, Frankfurt am Main.
