PATRIZIA acquires “ML69” office asset in Frankfurt, Germany
Investment grows portfolio in one of Germany’s top seven real estate markets
- Building offers 5,000 sqm of multi-let space which is fully let
- Strong location in the heart of Frankfurt’s banking district within the CBD
Augsburg, 12 November 2019. PATRIZIA AG, the global partner for pan-European real estate investment, announces the acquisition of “ML69”, a multi-let office building in Frankfurt, on behalf of one of its German commercial funds.
“ML69”, which comprises around 5,000 sqm of lettable space arranged across six floors, is 100% let. Occupiers include ABC Business Center GmbH, SIGNAL IDUNA Krankenversicherung a.G. and PINAR Food GmbH.
Located in the CBD of Frankfurt, the property is situated on Mainzer Landstraße in the heart of the city’s banking district, one of the strongest office locations in Europe.
Thomas Otto, Associate Director Transactions Germany at PATRIZIA, commented: “This transaction presents an attractive opportunity to acquire a high quality, fully let office building generating sustainable income in one of the top seven real estate markets in Germany. Leveraging our expertise, we have already identified an asset management plan to capture reversion and grow income.”
PATRIZIA AG has been active as an investment manager in the real estate market across Europe for more than 35 years. PATRIZIA’s activities include the acquisition, management, repositioning and sale of residential and commercial real estate through its own licensed investment platforms. As a global partner for pan-European real estate investment, PATRIZIA operates as a respected business partner of large institutional investors and retail investors in all major European countries. PATRIZIA manages more than EUR 41 billion of real estate assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks and as co-investor. For further information, please visit: www.patrizia.ag.
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