An interesting real estate deal took place in Frankfurt (Germany): Frankfurt-based single family office DZ Invest sold a mixed-use office and residential building to another German single family office.
4,500 sqm development project, acquired in 2013
The now sold building was acquired in 2013 by DZ Invest. Being located at the corner of Klingerstraße 20 / Allerheiligenstraße 42, the building is in Frankfurt’s dynamic heart. Total lettable area of the object is 4,500sqm. DZ Invest bought the object as a development project. Until today, significant rent increases were realized. Additionally, the city of Frankfurt approved a new utilization concept.
Active real estate single family office from Frankfurt
In 2019, DZ Invest was one of the most active single family offices in the German real estate sector. Many major buildings in the Frankfurt region belong to the family investment firm. For example, the 7,500 sqm “Hotel Neckarvillen”, which was a boutique hotel development project. The recent share deal in Frankfurt’s Allerheiligenviertel shows that German family offices are getting more confident in the real estate sector and that they are building up extensive experience. Also, the sale from one family office to another is an interesting side note.
Noah Boyer, 13.01.2019
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