Warburg-HIH Invest has announced the acquisition of the Zebra scheme currently under construction in the European Quarter in Frankfurt am Main within the framework of a forward purchase.
The new office building is being developed by Aurelis Real Estate and will have a gross lettable area of 16,700 m2. Completion is scheduled for late 2021.
Already let to the Deloitte consulting company on a 15-year lease, the single-tenant property is earmarked for an investment fund whose shares are held by a German insurance company and a German superannuation scheme. Financial details were not disclosed.
The purchase of the Zebra scheme marks the third development that Warburg-HIH Invest acquired in the European Quarter. Following its completion, the company will have three large-scale assets with a combined office space of nearly 70,000 m2 under management at this site.
'Following the acquisition of the DB Brick and DB Tower developments, which are located in the immediate vicinity of the Zebra property, this represents the next deal we completed with Aurelis at this site,' said Hans-Joachim Lehmann, managing director of Warburg-HIH Invest. 'The transaction illustrates the great mutual trust as well as the highly professional manner in which the processes are controlled on either side. On top of that, we have once again demonstrated our ability to secure outstanding projects on behalf of our clients early in the game.'
Aurelis is seeking a DGNB Gold certification for the Zebra building.
