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

Press Release

GEG acquires PALAZZO FIORENTINO in Frankfurt

Frankfurt, 28.06.2019

GEG German Estate Group AG, Frankfurt/Main, has now purchased the   PALAZZO FIORENTINO in Frankfurt-Sachsenhausen, a building boasting just under 11,000 sqm of office space and 102 underground parking spaces. The property was sold by BMO Real Estate Partners, Munich. Total investment volume results from a bidding competition, and amounts to approximately €50 million.   GEG bought the property for the manage-to-core-fund “GEG Deutschland Value I”. All of the building’s office space is let to Bankhaus Metzler.

PALAZZO FIORENTINO was constructed in 2001 and comprises the ground floor plus six upper floors; a wraparound roof terrace adds to the building’s attractiveness. The standard floors can be divided into several self-contained  rental units, with numerous separate entrances offering the possibility for house-in- house solutions. The excellent visibility and top location (the Main river  promenade, ECB, Sachsenhausen’s gastronomy and main public transport can all be reached on foot) round off the image of an exclusive property.

In this transaction, the buyer was advised by Bögner Hensel & Partner (legal and tax) and CBRE (technical); the seller was advised by JebensMensching (legal and tax). CBRE brokered the transaction.

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 €3.7 billion in assets under management, distributed over the whole of Germany.

This portfolio includes several high-rise buildings in Frankfurt (IBC Campus, luxury hotel Villa Kennedy, Japan Center, Global Tower, RIVERPARK Tower), the Sapporobogen and the “Junges Quartier Obersendling” site in Munich as well as the recently acquired Pressehaus on Alexanderplatz in Berlin.

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.

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

GEG press contact:
Haussmann Pfaff Kommunikation
Höchlstrasse 2
81675 Munich, Germany
Mobile: +49 172 8312923
Phone: +49 89 992496-50

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