Tishman Speyer and Commerz Real said on Thursday that they intend to build a 135-metre skyscraper on the Kaiserkarree site they bought in Frankfurt's banking district from Commerzbank. Construction is due to start this spring, with completion scheduled for early 2011.
Tishman Speyer and Commerz Real said on Thursday that they intend to build a 135-metre skyscraper on the Kaiserkarree site they bought in Frankfurt's banking district from Commerzbank. Construction is due to start this spring, with completion scheduled for early 2011.
The 37-storey tower was designed by architects Gruber + Kleine-Kraneburg and will be financed by Eurohypo.
'The project is a new highlight in Frankfurt's banking district', said Hubert Spechtenhauser, spokesman of CommerzReal's board. 'Developing mixed-use projects comprising office, retail and housing space will continue to give the dynamism of the site a boost. Kaiserkarree is proof of our conviction that the core of the financial centre has a future', he added.
Tishman Speyer is a US-based owner, developer and operator of real estate. Since its foundation in 1978, the company has acquired or developed an overall portfolio value of circa EUR 35 bn. Worldwide the company is known for prestigious properties as Rockefeller Center in New York or OpernTurm in Frankfurt, Germany.
Commerz Real is a fully owned subsidiary of German bank Commerzbank. The group has EUR 44 bn in assets under management.
