TD News International Location: Frankfurt

Immobel: Belgians buy residential tower project in Frankfurt

23/01/2019 Belgian Immobel Group has bought the residential tower project “Eden” in Frankfurt. The high rise in the Gallus district with 263 apartments or 20,000 sqm living space was designed by gsp Städtebau. Completion is scheduled for 2022. The project is part of the so-called Telenorma site development, which also includes the hotel and office tower “The [...]

Frankfurt: Triton leases 5,100 sqm in Omniturm

22/01/2019 Triton has leased roughly 5,100 sqm office space in Frankfurt’s Omniturm. The investment firm currently resides in Frankfurt’s Schillerhaus on Schillerstraße 18-20. The move into the new offices in the hybrid office and housing tower is anticipated in March 2020. The 45-story Omniturm is to be completed in the 3rd quarter of 2019 and will [...]

Frankfurt: Office building at Uhlandstraße 2 goes to DWS

11/01/2019 NorthStar Realty Europe (NRE) has announced the sale of an office building in Frankfurt at a price of around $41mn (roughly €35.6mn), with an agreement signed in December last year. TD has learned from market insiders that the buyer is DWS. Closing is still pending. The building, formerly the headquarters of Saatchi & Saatchi, is [...]

GEG puts out feelers in Berlin

11/01/2019 The GEG German Estate Group, which acquired office buildings for almost €750mn last year, is aiming for a similar investment volume in 2019. GEG, founded four years ago, is mainly invested in Frankfurt, with nine properties there; CEO Ulrich Höller has intimated that his company might make its first Berlin acquisition this year – “We’re [...]

Cycas: Long-stay operator takes over Marriott Hotel at Frankfurt Airport

09/01/2019 Dutch hotel operator Cycas is following through on its ambitions for the German market and has been operating its first hotel at Frankfurt Airport since mid-December. The hotel is the privately-owned Element Frankfurt Airport in the Gateway Gardens district. The establishment opened in 2014 under Mariott’s Elements brand, which offers long-stay arrangements. It has 133 [...]

Frankfurt: Helaba and HFS finance “Das Präsidium”

07/01/2019 Düsseldorf-based developer Gerchgroup has paid the price of €212.5mn for the site of the former Frankfurt police headquarters to the state of Hesse. As the company reports, the financing for the project “Das Präsidium”, which is estimated at about €800mn, is now in place. Helaba and HFS are providing a loan for purchase and further [...]

Frankfurt: office market at high level despite decline

04/01/2019 The Frankfurt office market ended 2018 with a take-up of 622,100 sqm – despite a decline – according to initial figures from NAI Apollo. This is the second-highest figure in the past 15 years after the record year of 2017 (711,600 sqm), and exceeds the long-term average (475,500 sqm) by more than 30%. In addition [...]

Frankfurt: Eurotheum goes to GEG for €250mn

21/12/2018 The GEG German Estate Group is acquiring the Eurotheum, at Neue Mainzer Straße 66-68 in Frankfurt’s central banking district, for around €250mn. The seller of the 110-meter office tower is Commerz Real’s open-ended real estate fund Hausinvest, which has owned the European Central Bank’s former headquarters since 1996. The 31-story building was converted and repositioned [...]

Frankfurt: ET Global rents 4,500 sqm in St Martin Tower

21/12/2018 The companies of the ET Global Exhibit Group, currently in locations scattered throughout the Rhine-Main Region, will be brought together under one roof in Frankfurt’s St Martin Tower as of January 1st, 2019. TD has learned from market insiders that the trade fair service provider has rented around 4,500 sqm of office space in the [...]

Generali buys Frankfurt’s Marienforum

20/12/2018 The “Marienforum”, an office complex currently under construction, will presumably change hands in early 2019. Perella Weinberg Real Estate Fund II LP (PWREF II) has recently signed an agreement for its sale to an investment vehicle of the Generali Group. TD has been informed that the purchase price was just under €170mn, corresponding to a [...]