Frankfurt: Allianz sells office building on Opernplatz to Signa


Allianz Real Estate has sold its office building at Opernplatz 2 in Frankfurt to Signa as part of an off-market deal. TD has learned from market insiders that the building was sold together with a property in Rotterdam. Allianz and the city of Frankfurt held a competition in 2016 for the design of a new building at the location, and selected the submission by the Berlin architectural firm Baumschlager-Eberle. 11,700 sqm GFA was planned for office and retail use at the time. According to the city’s planning office, a building permit was issued this past May. However, market insiders in Frankfurt believe that the price Signa paid suggests bigger plans. The only information that could be gathered on the price is that it was “considerably over €100mn”. Signa has so far not replied to queries, and Allianz has withheld comment.

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