CNP Assurances has given AEW a mandate to acquire the Taunusanlage 11 (T11) office tower in Frankfurt, Germany, from landlord Triuva Kapitalverwaltungsgesellschaft.
The asset is located in the centre of the Frankfurt business district and is primarily occupied by the German law firm Gleiss Lutz.
T11 provides 9,800 m2 of modern office space spread over 17 floors, as well as 119 parking spaces. Completely renovated in 2014, the scheme boasts a 'DGNB Gold' certification.
The investment is in line with CNP's commitment to reduce the energy consumption of its property assets by more than 20% by 2020.
AEW was advised by GreenbergTraurig and Triuva by Hogan Lovells and BNP Paribas.
Separately, AEW Europe Value Investors, a value-add fund managed by AEW, has sold the City Tower office-led scheme in Stuttgart to Aviva Investors Real Estate France (AIREF) for an undisclosed amount.
Located near Stuttgart's central station, the 16,500 m2 complex comprises two buildings renovated between 2007 and 2011. It is fully let to 23 tenants. Financial details were not disclosed.
'With this purchase we are currently present in Hamburg, Düsseldorf, Münich, Stuttgart, Bruxelles and Milan, and we are preparing our first investment in Spain. Our investment strategy is strongly focused on Europe, without forgetting our domestic market,' commented Kristelle Wauters of AIREF.
Kraske Melcher and BlueIMvest advised AIREF. AEW was advised by Colliers International and Rotthege Wassermann.
