German fund manager Deutsche Fonds has acquired the Auge office building in the Rhein-Main Technology Center from Hochtief Projektentwicklung for just over EUR 51 mln.
German fund manager Deutsche Fonds has acquired the Auge office building in the Rhein-Main Technology Center from Hochtief Projektentwicklung for just over EUR 51 mln.
The seven-storey property was completed in September 2008. It comprises a rental area of almost 15,000 m2, of which 94% is already let long-term. The main tenants are corporate units of Deutsche Telekom.
Hochtief won the investor tender to construct the property in 2007. Work started in March of that year and, apart from the seven-story office block whose shape is modelled on that of the human eye, an eight-level parking deck with around 1,000 slots was also constructed.