German Single Family Office Acquires €400M Office Tower In Frankfurt

german single family offices invests in frankfurt skyscraper real estate

The Wirtgen single family office is still a quite new player in the German real estate market, but their real estate portfolio grows steadily. Now, the SFO acquired a €400M office tower in Frankfurt.

30,000 square meter office building “T8”

The “T8” is a 68-meter high office building, constructed in 2016 for the real estate investment fund CS Euroreal. “Novotny Mähner Assoziierte” architects planned the building, “msm meyer schmitz-morkramer” further developed the plans.  The building ha an office space of 30,000 sqm. The law firm Linklaters rents a third of the space, other tenants are WeWork and insurance company FM Global. Beforehand, the building was owned by South-Korean financial services company Mirae Asset Global Investments. The Asian firm bought the building in 2017 for €280M.

Wirtgen Invest is becoming one of Germany’s major single family offices

Wirtgen Invest was launched after the sale of the family-owned Wirtgen Group for €4.4B in 2017. In recent years, the SFO is steadily investing in real estate, energy, venture capital and financial markets. Other objects in the Wirtgen real estate portfolio include the “Wallhaus” in Hamburg or the “Bazaar de Cologne” in Cologne.

Source:
Juve, 22.09.2019
Picture: cmophoto.net, 22.09.2019

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