Allianz Real Estate has appointed BNP Paribas Real Estate and JLL to sell Frankfurt’s Skyper office complex.
According to Thomas Daily news service, the investor may achieve €550 mln for the 54,100 m2 38-storey tower and two adjoining buildings.
An Allianz spokesperson said the group does not comment on market rumour.
A sale at that level would show a strong return for Allianz which bought the complex in 2013 for approximately €300 mln from UBS Wealth Management’s Global Property Fund.
UBS is believed to have paid €400 mln when the manager bought the building in 2007 at the top of the last cycle.
Skyper is located in Frankfurt’s banking district in Bahnhofsviertel.
