Art-Invest Real Estate has bought an office building in Frankfurt from Contraco.
The purchase price was not disclosed. The three-storey building, comprising 13,000 m2, is around 95% let to multiple tenants.
The acquisition was made for an Art-Invest individual fund. Frankfurter Sparkasse provided long-term financing.
Art-Invest was advised by the law firm Berwin Leighton Paisner, while the vendor was advised by law firm Graf.
Vossbeck Real Estate brokered the transaction.
