Frankfurt-based Deutsche Immobilien Chancen (DIC) has sold an office building in the central German city of Bad Homburg to Madrid-based Falcon RE Investments and Morgan Stanley RE Funds (MSREF) for EUR 47.5 mln.

Frankfurt-based Deutsche Immobilien Chancen (DIC) has sold an office building in the central German city of Bad Homburg to Madrid-based Falcon RE Investments and Morgan Stanley RE Funds (MSREF) for EUR 47.5 mln.

Built in 2001, the property is in a central location near the main square of the city. Europe's largest electronics and electrical engineering firm Siemens and Japanese Fujitsu are the key tenants of the office building, which provides some 16,500 m2 of office space. Property consultant Atisreal acted as advisor in the transaction.

Founded in 1998 in Frankfurt, DIC is one of the most prominent firms in Germany specializing in commercial real estate transactions. Its portfolio is valued at EUR 2.2 bn.