Peakside Capital, a European real estate private equity firm, has teamed up with German developer Gross & Partner in a 50:50 joint venture to acquire two vacant office properties in Frankfurt's central business district for redevelopment.
Peakside Capital, a European real estate private equity firm, has teamed up with German developer Gross & Partner in a 50:50 joint venture to acquire two vacant office properties in Frankfurt's central business district for redevelopment.
The vendor of the buildings was BHF Bank, the former owner-occupier and a subsidiary of Deutsche Bank. The terms of the transaction are confidential.
Peakside and Gross & Partner will redevelop the two sites, together with a land plot totalling 2,581 m2, into a scheme with 2,900 m2 of retail and 9,100 m2 of office space.
Peakside and Gross & Partner were advised on the transaction by Olswang and Steinhaus-Prof. Dr. Griesar.
