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.
Subscribers to our premium service have access to this article in full as well as to an additional 480,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany's leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.