Austrian family office Imfarr and Swiss holding company SN Beteiligungen have acquired the Silver Tower in Frankfurt from the Samsung Group for a reported €630 mln.
Korea's Samsung SRA Asset Management bought the property in 2014 from IVG for around €450 mln.
The 36-storey office tower, which was built in 1978, was fully refurbished in 2012, when main tenant Deutsche Bahn moved in on a 12-year lease.
The Silver Tower or Silberturm stands at 166-metres high. Deutsche Bahn occupies 50,000 m2 of offices, and an adjoining property of 22,000 m2 assigned to board and executive functions. The off-market deal represents one of the largest office transactions in Frankfurt this year.
The transaction marks the second recent major joint real estate deal by Imfarr and SN after their acquisition last year of the Omega portfolio, comprising the non-core assets of Hypo Vereinsbank.
Colliers brokered the deal, while BNP Paribas Real Estate is understood to have advised the seller.
