Independent investment and asset manager KGAL has acquired the Platinum office building in Wiesbaden for one of its institutional real estate funds.
Developed by Frankfurt-based project developer OFB, the asset comprises around 5,300 m2 of rental space and is characterised by its innovative building technology and sustainability.
It is leased long-term to Hessen Agentur, a service company of the state of Hesse.
Built using a timber-hybrid construction method, the property was completed in 2023. Around 50% of reinforced concrete was saved during construction.
Designed as an energy-plus building, the asset generates more energy over the course of a year than it requires to operate.
The property has six above-ground office floors, a basement, which houses the underground car park and technical areas, and an outdoor area with additional parking spaces including electric charging stations.
The taxonomy-compliant Platinum is classified in energy class A+ and has DGNB Platinum certification. It also has WiredScore Platinum certification for digital connectivity and infrastructure.
'Such ESG "lighthouse" properties are attractive for tenants and investors now and in the long run, as they set standards in terms of sustainability and do not entail any stranded asset risk,' said André Zücker, co-CEO of KGAL.
'Supply and demand in the real estate market are gradually coming back into line and we will actively seize the opportunities that are now opening up for our investors,' Zücker concluded.
Image courtesy of OFB
