Generali Real Estate, the property arm of the Italian insurance giant, has purchased a pre-let office project in Frankfurt from Germany's Patrizia and developer OFB for an undisclosed sum.
Sono West, a 8,200 m2 office property located at Bockenheimer Landstraße 55 in Frankfurt's Westend, was sold to Generali as part of an asset deal. Joint venture partners Patrizia and OFB, who developed the scheme, carried out the ground-breaking ceremony for the building on July 21.
The asset has been prelet in its entirety to JLL on a 10-year lease. Around 450 employees are expected to occupy the property on its completion, planned for the end of 2018. The building will include 62 parking spaces in a two-storey underground car park.
OFB will complete the project development post-sale. According to local media reports, the deal underlines Generali's plans to expand and further diversify its real estate portfolio in Europe.
JLL advised the vendor.
