Frankfurt: Helaba and HFS finance “Das Präsidium”
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 project financing. The lot measures 15,430 sqm and is one of very few large development sites in the center of Frankfurt. The purchase was finalized in February 2018; the property was sold by the state of Hesse. Plans for the site include an ensemble with offices, a hotel, and housing. The zoning and architectural drafts will be determined in a competition involving the city of Frankfurt over the coming months.
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