Commerz Real has sold the Grand Campus, an office complex at Mainzer Landstrasse 151-157 in Frankfurt to the investment manager Arminius Group, which was acting on behalf of an institutional investor. The purchase price was nor disclosed.
The Grand Campus office complex in Frankfurt has a 60,800 square metres of leasable space and is leased to Commerzbank in the long term. The entire complex comprises four – originally as many as five – buildings, of which three (DLZ 1-3) were built in 2001 and became part of CFB-Fonds 137.
“With the successful sale our investors are profiting from the very dynamic development of this district between the central station and the fair trade grounds,” said Heiko Szczodrowski, Head of Asset Structuring Portfolio Management at Commerz Real.
“As a result of the development numerous large-scale office and residential projects have been completed in recent years or are currently under construction and have led to a significant revitalisation of the location on Mainzer Landstrasse.”