Quantum has acquired office campus Adlerwerke in Frankfurt am Main on behalf of a club of German institutional investors from PGIM Real Estate.
The transaction volume was not revealed.
PGIM Real Estate acquired the property in an off-market transaction in January 2014 on behalf of a joint venture between its clients. Adlerwerke is approximately two kilometres west of Frankfurt’s prime central business district in the upcoming city district of Gallus.
'The sale of Adlerwerke represents our ability to source and execute real estate transactions in key markets and demonstrates our capability to create value for our investors. We will continue our strategy of sourcing compelling investment opportunities with the aim of creating significant value through custom asset management,' commented Sebastiano Ferrante, head of Germany and Italy at PGIM Real Estate.
The office campus comprises five buildings with a total lettable area of about 80,000 m2, combining historic brick properties from the early 20th century with new buildings delivered in 1997 and 1998. Tenants include Deutsche Bahn AG and Wunderman.
BNP Paribas Real Estate GmbH and Freshfields Bruckhaus Deringer advised PGIM Real Estate on the sale of Adlerwerke.
Quantum was represented by Clifford Chance.
