German lender pbb Deutsche Pfandbriefbank has provided a loan of over €150 mln to a property company managed by RFR Group and a business partner to finance the conversion of the Hochhaus am Park high-rise building in Frankfurt's West End to residential and hotel use.

hochhaus am park

Hochhaus Am Park

Comprising two offset towers, the complex is located in the direct vicinity of Frankfurt's Grüneburgpark recreational area. Under the development plan, one of the towers will be converted into around 100 high-quality apartments with a total residential floor space of some 13,700 m2, with 180 underground car parking spaces.

The second tower will be converted into a five-star hotel with around 140 rooms, plus conference and spa facilities.

The apartments are expected to be completed by mid-2019, with marketing commencing already at the end of this year. The hotel is also scheduled to open by mid-2019.

'The revitalisation of the Hochhaus am Park complex is an interesting project, located in a desirable residential area,' commented Gerhard Meitinger, head of Real Estate Finance Germany at pbb Deutsche Pfandbriefbank.

Want to know more about the German market?
Join us at our Outlook Investment Briefing in Hamburg on 22 June. 

Held at the offices of Union Investment in the Emporio building on Valentinskamp, the event is part of our bi-annual European Outlook series. An expert panel will examine key investment trends, both in Germany and continental Europe. How do investors see the activity in the first half of 2016 and what is the likely scenario for the second half of the year? Will we see a bounceback for Europe after the referendum in the UK? What are the strategies best suited for investors at this point in the cycle? Which sectors are likely to outperform?

Benefit from an interactive briefing on the outlook for Germany and main European markets and network with leading investment specialists including the speakers from Union Investment, Catella, DREF and Corestate.

Germany Investment Briefing
22 June
Union Investment Real Estate GmbH, Valentinskamp 70 / EMPORIO, Hamburg, 20355, Germany

Click here for details and to register