Art-Invest buys office property in Frankfurt’s Ostend
Art-Invest Real Estate have acquired the building on Hanauer Landstraße 151-153/Ferdinand-Happ-Straße 32 in Frankfurt am Main for one of the office funds they manage. The seller is Generali Real Estate on behalf of one of the companies of the Generali Group. The 8,400 sqm building was completed in 2003 and is currently 85 % leased. This is the first acquisition in Frankfurt’s Ostend for Art-Invest. The property is suitable for small-unit leasing and stands out with its heterogeneous tenant structure, Art Invest states. Apart from the state of Hesse as main tenant, the spaces are currently used by marketing agencies, IT services providers, and medical practices. The buyer was legally advised by GSK Stockmann and technically by Drees & Sommer. Mayer Brown provided legal support for the seller, CBRE brokered the transaction.
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