German financial services company DVAG has acquired an 44,600 m2 office building in Frankfurt for an undisclosed sum.

German financial services company DVAG has acquired an 44,600 m2 office building in Frankfurt for an undisclosed sum.

DVAG will revamp the building, which is located at Windmühlstrasse 14 in Frankfurt's Gutleut/Central Station district, from mid-2016. The company plans to move into the building and use it as its new headquarters at the end of 2016 or the beginning of 2017.

The group’s previous head office, at Münchener Strasse 1, will be refurbished.

DVAG was advised on the transaction by BNP Paribas Real Estate.