NPS is understood to be under offer to acquire a major office complex in Frankfurt in what would be the latest major real estate investment announced by the South Korean sovereign wealth fund over the past few weeks.
Market sources say NPS is buying the 47,900-m2 Marienturm tower in a transaction which is believed to be worth up to €800 mln.
Located in the city’s central banking district, Marienturm is almost fully occupied with tenants including Bank of America Europe DAC and Corestate. The asset is being sold via agents JLL and BNP Paribas Real Estate.
The tip comes only 10 days after NPS announced it has joined forces with developer-investor Tishman Speyer to launch a $1.5 bn separately managed account (SMA) focused on investments in real estate innovation and high-demand asset classes across major US markets.
The NPS-Tishman Speyer platform will also devote capital for the acquisition and development by Breakthrough Properties of world-class life sciences real estate. NPS will also become the anchor investor in Tishman Speyer's newly established affordable housing platform. In addition, the partnership will seed the creation of a new mezzanine lending arm within Tishman Speyer that will originate and acquire high-yield loans tied to various sectors of real estate in gateway cities and growing innovation markets.
Aermont declined to comment.
