Zurück zur Übersicht

CELLS acquires LATERAL TOWERS for KAMCO INVEST GROUP

  • Office property with 46,000 sqm in central Frankfurt location
  • Fully leased in the long-term / BREAAM “Very Good”

CELLS Group has acquired the office building LATERAL TOWERS in Frankfurt for KAMCO INVEST GROUP. The property at “Neue Börsenstrasse 1” consists of approx. 46,000 square metres office space distributed across a complex of eight interconnected buildings and being fully leased to COMMERZBANK on long-term basis. The seller is an international fund together with COMMERZ REAL AG. The parties agreed not to disclose the purchase price.

The building was developed in 2001 by OFB Development as the headquarters for Deutsche Börse. It was refurbished in 2015 and is BREAAM “Very Good” certified. LATERAL TOWERS are located in the north-western area of Frankfurt, bordering the Bockenheim and the central business district. The property’s connectivity to the public transport network is excellent. The nearest subway station is located within walking distance and the city centre can be reached in less than 10 minutes.

“The building meets the requirements for a modern working environment and the quality expectations of our client. In addition, the office layout offers a high degree of flexibility and attractive common areas create additional space for collaborative work. The investment offers a predictable income combined with long-term Asset Management potential” comments Dirk Ruppert, Managing Partner and CIO at the CELLS Group.

“We are pleased with our first office acquisition in Germany, a major milestone in KAMCO INVEST GROUP’s plan to expand to major international real estate markets. We are also delighted to begin our relationship with CELLS with this asset. As demonstrated by this acquisition, the property is an excellent fit with our strategy to generate stable distributions to our clients with potential value appreciation. Furthermore, KAMCO INVEST GROUP continues to develop its international real estate platform and partnerships for the mutual benefit of all stakeholders, and we remain eager to continue building our track record in the wider Europe and international markets for our investors” says Mohammad Al Othman, Executive Director of Real Estate at KAMCO.

The buyer was advised by GSK (legal) , EY (tax matters) and TA Europe (technical). The seller was provided with advice from Allen Overy and Kim & Chang. The transaction was marketed by BNP Paribas Real Estate and Cushman & Wakefield on behalf of the seller.