OFB acquires municipal offices on Schiersteiner Berg in Wiesbaden
OFB Projektentwicklung has acquired the public authority center “Behördezentrum Schiersteiner Berg” in Wiesbaden, located on around 37,000 sqm of land and with around 63,500 sqm of lettable space in an asset deal from a Patrizia spezialfonds. The buildings, most from the 1970s and early 1980s, are being let to the State of Hesse. OFB intends to further develop the site and to modernize or possibly replace some of the existing older buildings. The center was part of the so-called Leo portfolio from which the State of Hesse sold real estate between 2004 and 2006. OFB was advised on the transaction by the law firm GSK Stockmann Rechtsanwälte. The purchase was brokered by CBRE Frankfurt as part of a bidding process.
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