Aareal Bank has sold the Main Triangle office building in Frankfurt to German listed investor WCM for €90 mln.
Aareal Bank has sold the Main Triangle office building in Frankfurt to German listed investor WCM for €90 mln.
The striking triangular property offers 43,000m2 of lettable space at Zum Laurenburger Hof 76 near the Main River.
The vendor is Main Triangel, a subsidiary of Aareal Bank, which acted as transaction adviser in the sales process. Closing of the transaction is expected to take place in September 2015
Aareal said in a statement that it has supported Main Triangel from the project planning phase in 2001, through to delivery in 2006 and the sale of the property. The bank decided to sell the building now due to the strong demand among investors for high-quality assets in Germany. The disposal will generate a 'single-digit million' amount, Aareal added.