Immobel: Belgians buy residential tower project in Frankfurt
Belgian Immobel Group has bought the residential tower project “Eden” in Frankfurt. The high rise in the Gallus district with 263 apartments or 20,000 sqm living space was designed by gsp Städtebau. Completion is scheduled for 2022. The project is part of the so-called Telenorma site development, which also includes the hotel and office tower “The Spin” being built by Groß&Partner. The purchase of this project marks the German market entry for Immobel Group, which is listed at the Brussels exchange. “This acquisition demonstrates Immobel Group’s interest in Germany, where we are looking for other projects to create development platforms like those in other countries where we do business,” says CEO Marnix Galle. Apart from its home market, the company is already active in Luxembourg, Spain, Poland, and France.
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