German fund manager Commerz Real has sold the 18,300 m2 Trevista office building in Eschborn, near Frankfurt, to investor WCM Beteiligungs- und Grundbesitz.
German fund manager Commerz Real has sold the 18,300 m2 Trevista office building in Eschborn, near Frankfurt, to investor WCM Beteiligungs- und Grundbesitz.
Trevista is located in the Helfmann-Park business zone in Eschborn, which borders directly on Frankfurt/Main.
The property is almost fully let and generates €3.3 mln in annual rent. The net sale price comes to €49 mln, reflecting a rental yield of 6.7%.
Frankfurt-listed WCM had earlier announced the purchase on 23 September 2015.
Commerz Real had acquired the property for its open-ended hausInvest fund in 2006. Prior to the sale to WCM, Commerz Real extended existing lease agreements prematurely and secured new lettings for vacant space.