South Korean investor buys office building in Eschborn for €120mn
The South Korean investment firm Hana Financial Investment has acquired the “Helix” office building in Eschborn, near Frankfurt, as part of a sale and leaseback transaction. Hines acted as investment manager for Hana, and will take over the asset management together with United Partners (Korea). The seller, a subsidiary of Commerzbank AG, has signed a 15-year lease for the property. The purchase price, TD has learned from market insiders, was just under €120mn. The Helix – also known as the Vitreum – is located in Helfmann Park and has a total of 36,200 sqm of lettable space. CBRE advised the seller for the transaction, as did Clifford Chance and Drees & Sommer. Hines was advised by Goodwin Procter, PWC, Arendt, and REC Partners. Münchner Hypothekenbank provided financing for the acquisition.
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