TRIUVA sells Frankfurt Central to Aberdeen
TRIUVA Kapitalverwaltungsgesellschaft mbH (TRIUVA) has sold Am Hauptbahnhof 18 to Aberdeen. The office and retail property Frankfurt Central, located directly opposite Frankfurt’s central railway station, was acquired by Aberdeen Asset Management Deutschland AG on behalf of a pension fund mandate.
Constructed in the 1970s, the building was modernised by IVG Development GmbH in 2009/10 and designed by architects Christoph Mäckler. The anchor tenant is the regional transport company Hessische Landesbahn.
The total area of approximately 10,000 m² is comprised of 9,000 m² of office space and 1,000 m² of retail space across ground and nine upper floors. The basement contains an underground car park with 153 parking spaces.
Manuel DeVigili, Head of Investment Management at TRIUVA, said: “We are delighted to again take advantage of the current market phase for a sale at attractive terms. We were therefore able to achieve core pricing for a value add property.”
TRIUVA’s consultants were law firm King & Spalding (legal) and Drees & Sommer (technical). Oceans & Company represented the vendor. On the buyer side, Beiten Burkhardt provided legal advice, whilst REAG was responsible for technical due diligence. The vendor was advised by Busch Advisors for commercial due diligence.