Allianz poised to buy Skyper tower in Frankfurt

German group Allianz is in 'very advanced' negotiations to acquire the Skyper office complex in the Bahnhofsviertel district of Frankfurt, PropertyEU has learned.

Skyper consists of a 154-metre skyscraper and two adjoining lower buildings It is being sold by UBS Wealth Management Global Property Fund through property adviser Jones Lang LaSalle.

All parties declined to comment.

The fully let building was developed in 2005 and bought on completion by one of Deka's open-ended real estate funds, which according to well-informed market sources sold it to UBS two years later for around €400 mln.

DekaBank is one of the main tenants, along with HSBC bank, the German Central Bank (Bundesbank) and investment bank Houlihan Lokey.

Designed by architects JSK, the tower provides 41,000 m2 of office space over 38 storeys.

Also in Frankfurt, Austrian property group CA Immo is understood to be looking for a buyer for a 75% stake in its 200-metre high Tower 185 building in the Gallus district.

Market sources told PropertyEU that the vendor has hired CBRE to market the asset valued at around €450 mln. Non-binding offers are expected by June.

Located at the entrance of the Europaviertel district, the 100,000 m2 fully-let scheme was completed at end-2011 and is mainly let to PricewaterhouseCoopers which occupies 68,000 m2 and uses it as its Frankfurt headquarters.

Besides offices, the building provides a conference centre and 551 underground parking spaces.