EQT Real Estate, the Stockholm-based alternative investment firm, has announced it has invested in two office buildings comprising about 70,000 m2 in Frankfurt.
The two multi-let office assets form part of the Project Mars portfolio, which was acquired by Eurocastle from DWS in 2007. Financial details were not disclosed.
The assets are located in the Niederrad and Neu-Isenburg submarkets of Frankfurt. The largest one, Atricom, comprises 45,600 m2, while the second building, Le Büro, offers 23,700 m2. Both assets will be redeveloped and upgraded, EQT said.
'We are looking forward to EQT Real Estate taking part of the ongoing development in Frankfurt-Niederrad. The area is rapidly changing and the plans for Atricom should make a positive contribution to this part of town,' commented Frank Forster, Director at EQT Partners and advisor to the Fund.
EQT manages €36 bn in raised capital across 23 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than €19 bn and 110,000 employees.
