ABG buys historic property in Frankfurt from PGIM Real Estate

ABG buys historic property in Frankfurt from PGIM Real Estate fund

ABG Real Estate Group has purchased a historic property on Frankfurt’s Rossmarkt together with its joint venture partner HanseMerkur Grundvermögen from a PGIM Real Estate fund.

The listed building with its striking façade is situated in a prime location between the banking district and the historic Hauptwache building.

The property is let to Deutsche Bank, which has been using it as its main branch office in Frankfurt for over 90 years; For several years, Deutsche Bank also used the property as the bank’s headquarters.

ABG said the total investment volume is in the lower triple-digit million-euro range.

ABG Real Estate Group, which is active in all of Germany’s top cities, has acquired its second outstanding property in Frankfurt’s banking district together with HanseMerkur Grundvermögen: In late summer 2020, the partners had already purchased the Frankfurt landmark Oddo BHF-Tower.

The now acquired building is located directly on Frankfurt’s Rossmarkt and thus on one of the best-known addresses in the city of Frankfurt. Rossmarkt offers direct access to Goetheplatz and An der Hauptwache, both equally prominent squares, and is ideally connected in terms of transport. The renowned shopping streets Goethestraße and Zeil are also nearby.

The property comprises lettable space of approximately 13,600 sqm on six storeys above ground. The façade was designed using elements of the Late Baroque and early Classicism periods, creating a highly attractive and unique building in Frankfurt. Situated at the interface of the banking district, the city centre and the “FOUR” project that is being developed, the property also has exciting development potential and great attractiveness for various uses.

Ulrich Höller, Managing Partner at ABG Real Estate Group, stated: “ABG Real Estate Group has purchased a unique property on Frankfurt’s Rossmarkt, which stands out not only due to its special architecture in a prime location, but also because of its long history and significant potential.”