The DIC Group is one of the leading investors in the German market for commercial real estate

Deutsche Immobilien Chancen (DIC) with registered office in Frankfurt am Main was set up in 1998. Today, it is active across Germany and one of the country's leading investment entities for commercial real estate.


Press Release

HANSAINVEST Real Assets joins GEG's Global Tower development project, as a future buyer

Frankfurt, 01.10.2018

HANSAINVEST Real Assets GmbH ("HANSAINVEST") has joined the Global Tower development project of Frankfurt-based GEG German Estate Group AG ("GEG") as a partner, with the acquisition of a 50 per cent stake. Following project completion in the late summer of 2020, HANSAINVEST will acquire the remaining 50 per cent, and place the property in one of its special investment funds. GEG will remain fully responsible for the entire project development, construction management, and letting. The building will have 33,000 sqm of rental space across 30 floors; total investment will amount to some €340 million. Only a few days ago, and immediately following the start of construction, GEG announced the first major tenancy agreement with Spaces, Europe's leading provider of co-working spaces and part of Regus Group. Spaces will take up 9,170 sqm in the Global Tower.

The seller was advised by Noerr LLP and the buyer by GSK Stockmann.

Ulrich Höller, Chief Executive Officer of GEG, said: "The decision of this highly professional investor to join the Global Tower development project at this point in time, and to fully acquire the property following completion, is testament to the quality and development potential of the property."

Nicholas Brinckmann, Speaker of the Management Board of HANSAINVEST Real Assets, said: "Tradition meets state-of-the-art – to paraphrase in just a few words the centrally-located property being refurbished in Frankfurt's banking district. Joining forces with GEG, we will be developing the existing property into a DGNB¬certified green building, based on our conviction that Frankfurt will continue to benefit from favourable development in the future. We very much look forward to the cooperation with such a strongly performing partner such as GEG, and we are thrilled about the prospects for the years to come."

As already announced:
GEG German Estate Group AG launched construction work on its Global Tower project in mid-2018. The former Commerzbank skyscraper at Neue Mainzer Strasse 32–36 in Frankfurt/Main will be refurbished to create state-of-the-art office floor space. The first step in the process will be to gut the iconic building. At the turn of the year 2018/19, the façade will be dismantled step by step and the structural works will begin. The building is scheduled to be completed by 2020. The total investment volume will be approximately €340 million.

An impressive 9m-high New York-style lobby will be accessible from both Neue Mainzer Strasse and Grosse Gallusstrasse. The ground floor will accommodate restaurant and other food outlets, event areas and retail space. The three upper floors of the base building will host up to 2,440 sqm in rental space. A rooftop terrace will be found on the fourth floor. Standard floors will offer up to 1,000 sqm in rental space each. From a skyline terrace on the 25th floor, Global Tower will offer a breathtaking view of the city.

GEG will re-position the iconic building based on plans by the architects of msm meyer schmitz-morkramer and provide for flexible office layouts with first-class modern facilities for multi-tenant use. The façade is listed and will be completely redone. For interior design, the architects of msm have joined forces with the renowned Frankfurt-based interior architect Oana-Erica Rosen. In implementing the latest sustainability standards, GEG is striving to have the former administration building certified as a green building at the Platinum level.

The building, commissioned by Commerzbank, was erected in 1974 and was one of the first skyscrapers in Frankfurt/Main. Famed for its timeless architecture, it has since been listed due to its historical importance. The edifice was built in International style following plans from the architect Richard Heil. Its most central design elements, such as monochromatic colours, cubic forms and windows in horizontal bands, pay tribute to skyscraper classics such as the Seagram Building in New York, designed by Mies van der Rohe, or the Toronto–Dominion Centre, and will continue to play a significant role in the tower's redesign.

About GEG German Estate Group AG
Based in Frankfurt/Main, GEG German Estate Group AG maintains one of the leading German investment and asset management platforms for commercial real estate. Its investment focus and policy are concentrated on three segments: Institutional Business, Opportunistic Investments, and Project Development. Since its establishment in 2015, and within the framework of this clearly-defined strategy, GEG has consistently pursued opportunities to build an extensive and diversified real estate portfolio, comprising some €2.8 billion in assets under management. Besides landmark properties such as the IBC Campus, luxury hotel Villa Kennedy and the Japan Centre in Frankfurt/Main, the portfolio comprises the Sapporo Circle in Munich, as well as developments such as the MainTor city quarter, the Global Tower and the RIVERPARK Tower in Frankfurt, along with the Opera Offices in Hamburg and the "Junges Quartier Obersendling" development in Munich. The long-standing track record and outstanding reputation of senior management, together with a highly qualified and experienced team, provide the foundation for a leading market position. The two shareholders of GEG German Estate Group AG are Frankfurt-based TTL Group as well as KKR Kohlberg Kravis & Roberts, a leading global investment house with exposure to asset classes such as private equity, infrastructure, as well as real estate. Ulrich Höller is Chairman of GEG's Management Board.

More detailed information about GEG is available on www.geg.de.

About HANSAINVEST Real Assets:
The name of HANSAINVEST Real Assets GmbH is synonymous with long-term experience and sustainable investments in the real estate and infrastructure sectors. Around 80 employees manage assets in excess of €4.6 billion.

In the real estate segment, internationally positioned experts manage office, retail, hotel, logistics and residential properties in 19 countries. In addition to portfolio management, the areas of acquisitions and sales, asset management and project development are also covered. The latest product is the HANSA US Residential Fund, an open-ended special AIF which invests in residential properties in the United States.

In the infrastructure segment, HANSAINVEST manages a €700 million international investment portfolio; its services in this segment also include the acquisition of assets and ongoing portfolio management. (updated as at 31 August 2018)

More information is available on www.hansainvest-real.com.



<< back


Contact

Deutsche Immobilien Chancen AG & Co. KGaA

Neue Mainzer Straße 20 • MainTor
60311 Frankfurt am Main
Germany

Phone
+49 (0) 9450709–0
Fax
+49 (0) 69 9450709–9998


Media Contact

Haussmann Pfaff Communications

Höchlstraße 2
81675 München
Germany

Phone
+49 (0) 89 992496-50
Fax
+49 (0) 89 992496-52



© 2019 Deutsche Immobilien Chancen AG & Co. KGaA|Home|Search|Sitemap|Legal|Data Protection|Deutsch