GE Real Estate has announced the acquisition of an 18-storey office building in Frankfurt from a private individual for EUR 33 mln. The 10,000 m[sup]2[/sup] Bleichstrasse 64-66 office in Frankfurt’s city-centre was formerly fully occupied by Dresdner Bank.
GE Real Estate has announced the acquisition of an 18-storey office building in Frankfurt from a private individual for EUR 33 mln. The 10,000 m2 Bleichstrasse 64-66 office in Frankfurt’s city-centre was formerly fully occupied by Dresdner Bank.
The building’s refurbishment will be completed in mid-2008. NAI Apollo advised GE Real Estate on the transaction.
Rainer Thaler, managing director of GE Real Estate in Germany, said: ‘Securing Bleichstrasse 64-66 at this point in Frankfurt’s real estate cycle further demonstrates our ability to track and identify acquisition opportunities in the market that will benefit from our asset management expertise. Our core objective for this investment is to offer tenants looking for high-quality space in a central location, a product that suits their requirements and represents good value for money.’
