DWS: European fund buys Frankfurt’s “Kornmarkt Arkaden”
The DWS mutual fund “grundbesitz europa” is buying the mixed-use building complex Kornmarkt Arkaden in Frankfurt from OFB Projektentwicklung. Located between the Römer, Bankenviertel and Zeil districts, the new complex has around 23,000 sqm of UFA and is divided into two office buildings, one residential/retail building, and a hotel. Total investment volume was around €120mn according to earlier figures. The hotel, operated by Motel One, has 470 rooms and opened on November 1, 2018. A few days ago it was announced that the coworking provider Spaces will be an additional major tenant in the Kornmarkt Kontore, part of the office area of the Kornmarkt Arkaden.
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