STOCKHOLM, Oct. 6, 2017 /PRNewswire/ --
- EQT Real Estate invests in two office buildings comprising about 70,000 square meters in Frankfurt, Germany's foremost hub for financial services
- The plan includes an extensive repositioning of the buildings in the rapidly changing Niederrad and Neu-Isenburg submarkets
- The investment represents EQT Real Estate's fifth investment to date
EQT Real Estate I ("EQT Real Estate" or "the Fund") has acquired two multi-let office assets in Frankfurt, Germany. The assets form part of the pan-German portfolio Project Mars, acquired by Eurocastle from DWS in 2007, and represents the fund's fifth investment to date and second in Germany.
Frankfurt is well-known as an attractive base for the European banking and financial services sectors, with a rapidly evolving office market with strong demand from tenants but only a small number of new developments. The two buildings are both modern and strategically located in terms of transport links and political initiatives. The largest one, Atricom, comprises 45,600 square meters and is located in Niederrad, while the second building, Le Büro, comprises 23,700 square meters and is located in Neu-Isenburg.
The buildings are set to receive a comprehensive refresh and optimization by further modernizing, upgrading and improving the buildings, both technically and visually, in order to offer future and existing tenants a quality working environment.
Frank Forster, Director at EQT Partners and advisor to the Fund, said:
"We are looking forward to EQT Real Estate taking part of the ongoing development in Frankfurt-Niederrad. The area is rapidly changing and the plans for Atricom should make a positive contribution to this part of town."
Director at EQT Partners
Investment Advisor to EQT Real Estate I
EQT Press Office
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
About EQT Real Estate I
EQT Real Estate I will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 50 million and EUR 200 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive "hands-on" asset management, and with access to the full EQT network, including 10 European offices and more than 250 industrial advisors.
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Press release_EQT Real Estate broadens its German portfolio_171006
SOURCE EQT AB