Electra Real Estate and Kamor have purchased 70% of a luxury office building in Frankfurt for EUR 200 mln, plus EUR 17 mln in related costs. Electra Real Estate has acquired 60% of the property through a wholly-owned subsidiary.
Electra Real Estate and Kamor have purchased 70% of a luxury office building in Frankfurt for EUR 200 mln, plus EUR 17 mln in related costs. Electra Real Estate has acquired 60% of the property through a wholly-owned subsidiary.
Developed in 2003, the 35,500 m2 property is located in the city's central business district. The building is leased to Dresdner Bank until 2013, with a lease contract including a five-year option to extend. Net rent comes to EUR 14 mln.
