Frankfurt: Eurotheum goes to GEG for €250mn
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 after the ECB moved out in 2015. Since this summer the building’s 23,000 sqm have been fully let to Commerzbank, Visa, Scope, and other tenants. The coworking provider Mindspace has recently moved in and rented 3,300 sqm. BNP Paribas Real Estate and CBRE brokered the sale. Legal advice was provided by Hengeler Müller (for the buyer) and Freshfields Bruckhaus Deringer (for the seller). GEG was founded four years ago and with this acquisition now has nine landmark buildings in Frankfurt.
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