Special situations real estate investment company Civitas Property Group has acquired an office property in the Frankfurt Rhein-Main urban area from Corpus Sireo Real Estate, a subsidiary of Swiss Life Asset Managers.
Financial details were not disclosed.
The Isenhöfe buildings at Dornhofstraße 34 and 36 in Neu-Isenburg were built in 2000 and 2001, and have a total area of approximately 13,000 m2. They are located in the vicinity of Frankfurt am Main and its international airport.
Andreas Hardt, CEO of Civitas Property Group, said: 'The purchase of the two buildings is a reaction to the changing needs of many companies. We already have numerous enquiries from the market asking for exactly this concept.'
Current tenants include Viridium Service Management and Lufthansa. The transaction was brokered by Savills, with Beiten Burkhard also advising the vendor. White & Case advised the buyer.
Jan Stadelmann, director and head of Savills Frankfurt office, commented: 'Neu-Isenburg is an established office location for service companies in the Frankfurt am Main metropolitan region, which is experiencing sustained positive economic development due to its favourable transport links.
'The excellent location, tenants with strong credit ratings and the upside potential make the Isenhöfe buildings an attractive investment for the Civitas Property Group.'
