TLG Immobilien has invested €160m in Frankfurt’s office sector as part of a move beyond its traditional investment areas.
The listed property company bought two properties in Frankfurt am Main from a US investor.
The firm has typically focused on the office markets of Berlin, Dresden, Leipzig and Rostock.
Niclas Karoff, board member at TLG Immobilien, said: “For us, this transaction is the strategic start of our move into the rest of Germany.
“With this acquisition in Frankfurt, we are starting off with exceptionally well-positioned properties in each of the micro-markets.
“We intend to systematically expand our portfolio in the promising Rhine-Main area, as well as in other locations in Germany.”
Karoff said the business model would not change and that the deals made Frankfurt am Main the second-largest office location in its portfolio after Berlin.
The 31,500sqm Campus Carré in Frankfurt-Niederrad and the 26,700sqm Olof-Palme-Straße 35 in Frankfurt’s Mertonviertel were bought for €85.7m and €74.3m, respectively.