Hines, the international real estate firm, has acquired Werfthaus, an office property in Frankfurt for €114 million, on behalf of the Hines Pan-European Core Fund (HECF) from Tristan Capital Partners.
Werfthaus offers 14,336 square meters of office space and 208 parking spaces at Frankfurt Westhafen. The building’s new anchor tenant is the online platform Check24.
Werfthaus, the office property in Frankfurt, was completed in 2009 according to a design by the architectural firm KSP Jürgen Engel. Located in Frankfurt’s Westhafen, it offers flexible office space in an attractive location as well as generous outdoor areas for recreation. The immediate area also offers a wide range of restaurants and high-quality living space.
“We are happy to have secured this attractive investment opportunity for our Hines Pan-European Core Fund. Besides Marienbogen, this is the second investment by the Fund into the Frankfurt office market. Our Fund offers investors a stable earnings profile, consisting of a diversified portfolio. We invest in high-quality properties across major European cities,” said Peter Epping, HECF Fund Manager.
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Hines was advised by P+P Pöllath + Partners, Arendt, REC Partners and PWC. The seller side was accompanied by Greenberg Traurig, PWC and BNP.