Generali and Poste Vita buy Frankfurt’s “Marienforum”
Generali Real Estate has acquired the Frankfurt Marienforum in a joint venture with Poste Vita, the insurance company and subsidiary of Italy’s postal service. Generali released this information on the occasion of the closing of the transaction, which had first been announced in late 2018. This is the joint venture’s first acquisition. The seller is the PerellaWeinberg Real Estate Fund II (PWREF II); the project developer is Pecan Development. TD has been informed by market insiders that the purchase price was just under €170mn. The 40 meter, ten-story building is part of the new “Marieninsel” office quarter, in the city’s central business district.
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