Puma Brandenburg, an investor in German real estate, has acquired a Frankfurt office complex from the Deka Immobilien open-ended fund for EUR 199 mln. The building, with an area of 88,000 m[sup]2[/sup] and 1,500 parking spaces, is the second largest office building in Frankfurt.
Puma Brandenburg, an investor in German real estate, has acquired a Frankfurt office complex from the Deka Immobilien open-ended fund for EUR 199 mln. The building, with an area of 88,000 m2 and 1,500 parking spaces, is the second largest office building in Frankfurt.
The complex is currently leased to Vermogensverwaltungs. The acquisition value reflects a gross initial yield of 7.69%., researchers at merchant bank Kempen & Co said. Puma Brandenburg has invested close to EUR 400 mln in German property, covering a total of 286,000 m2