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

Press Release

GEG purchases the Eurotheum building in Frankfurt from Commerz Real

Frankfurt, 21.12.2018

• Total investment volume of approximately €250 million
• Prominent example of a successfully refurbished and re-positioned core property

GEG German Estate Group has acquired the Eurotheum building in Frankfurt/Main from Commerz Real for its Institutional Business division. Total investment volume amounts to approximately €250 million.

The 110-metre office tower, with 31 storeys and approx. 23,000 sqm rental space, is located in the centre of the banking district (Neue Mainzer Strasse 66–68) near the "Alte Oper" concert hall. The open-ended hausInvest fund, managed by Commerz Real, owned the building since 1996. Commerz Real reorganised the tenant structure of the building, which was the European Central Bank's former residence, in 2015; this included comprehensive revitalisation and technical refurbishment measures. Currently, it is once again let to renowned names, inter alia 17 companies from the finance and insurance industry, such as Commerzbank, Visa, Scope, or the co-working provider Mindspace.

BNP Paribas Real Estate and CBRE acted as intermediaries; Hengeler Müller (for the buyer) and Freshfields (for the seller), as legal advisors.

With this purchase, GEG, which was only founded three years ago, now has assets under management of more than €3 billion. Ulrich Höller, Chairman of GEG's Management Board, says: "This purchase marks another milestone in GEG's young history. Including the acquisition of Eurotheum, we are now invested in nine landmark buildings in Frankfurt, particularly in the banking district.

"The Eurotheum is a perfect example of successful value appreciation as a result of modernisation and repositioning", says Andreas Muschter, Chief Executive Officer of Commerz Real. "In selling the asset, and as a direct consequence of these measures, we have realised a good return for our investors."

About Eurotheum:
The Eurotheum building was designed by the Offenburg-based architects Novotny Mähner Assoziierte, and built between 1997 and 1999. It is 110m high, has 31 storeys, and 109 underground parking spaces. Approximately 17,000 sqm of office space is let, up to the 21st storey. From the 22nd storey upwards, the building houses the 4,000 sqm "Innside Frankfurt Eurotheum" hotel, which has two conference rooms and the publicly accessible "22nd Lounge & Bar".

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 more than €3 billion in assets under management. distributed over the whole of Germany.

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 Commerz Real:
Commerz Real, a Commerzbank Group entity, boasts 46 years of market experience and assets under management of approximately €31 billion. Comprehensive asset management know-how and a broad range of structuring expertise are what characterises Commerz Real's range of services of tangible asset-oriented fund products and individual financing solutions. The range of funds comprises the open-ended hausInvest fund, institutional investment products, and 3 entrepreneurial participations of the CFB Invest brand with tangible asset investments, primarily in the aircraft, renewable energy and real estate segments. As Commerzbank Group's leasing service provider, Commerz Real also provides appropriate moveable property leasing concepts and individual financing structuring for tangible assets such as real estate, large moveables and infrastructure projects.

www.commerzreal.com

Media contact GEG:
Thomas Pfaff
Haussmann Pfaff Communications
Höchlstrasse 2
81675 Munich
T: +49 89 99249650
M: +49 172 8312923
kontakt@haussmannpfaff.de

Media contact Commerz Real:
Gerd Johannsen
Press Officer
Friedrichstrasse 25
65185 Wiesbaden
T: +49 611 7105-4279
M: +49 151 11761717
gerd.johannsen@commerzreal.com

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