Single Family Office from Frankfurt Sells Office Tower for €300M

Single Family Office from Frankfurt Sells Office Tower for €300M

The headquarter of Frankfurt-based Oddo-BHF bank – called Oddo-BHF-Tower – changes its owner. The single family office Cara Investment sells the building to a consortium of ABG Real Estate and Merkur Grundvermörgen for an alleged amount of €300M.

Revitalization project planned

Currently, the only tenant of the building is the Oddo BHF bank. The consortium who acquired the building intends to revitalize and developt the building after Oddo BHF’s lease expires in 2024. At the latest, the revitalization project shall be completed in 2027. The Oddo BHF tower is located at the crossing of Bockenheimer Landstraße 10/Oberlindau 2 in Germany’s financial center Frankfurt. After its construction in 1965, the building was the highest in Frankfurt. The total lettable area of the building comprises 8400sqm and 23 stories.

Secretive single family office from Frankfurt

Cara Investment GmbH & Co. KG is a secretive single family office from Frankfurt that owns a significant real estate portfolio in Europe. In July, the family office acquired Waterloo Place in London for $93M. Cara owns many buildings in Frankfurt and is also involved in project developments.

Source: Immobilienmanager, 31.08.2020
Picture Source: Paul Fiedler

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