UBS Real Estate has acquired an office building situated in the western part of Frankfurt for around EUR52 mln. The property is earmarked for the BS (D) Euroinvest Immobilien open-ended fund. The seven-storey building was acquired from the German company G. Dreyer Planungsgesellschaft. Developed in 2003, the asset provides a total of 13,900 m[sup]2[/sup] of leasable space as well as 170 parking spaces. The property's occupancy rate is 70% and a rent guarantee is in place for the remaining 30%.
UBS Real Estate has acquired an office building situated in the western part of Frankfurt for around EUR52 mln. The property is earmarked for the BS (D) Euroinvest Immobilien open-ended fund. The seven-storey building was acquired from the German company G. Dreyer Planungsgesellschaft. Developed in 2003, the asset provides a total of 13,900 m2 of leasable space as well as 170 parking spaces. The property's occupancy rate is 70% and a rent guarantee is in place for the remaining 30%.
