Hines has completed the sale of Silberturm, a landmark office building in Frankfurt, on behalf of an international consortium.
IMFARR and SN Beteiligungen Holding AG purchased the office building in an off-market deal. It was the largest single asset transaction in Germany in 2020.
Hines acted as investment and asset manager for the seller since the consortium’s acquisition in 2015. All parties have agreed not to disclose the purchase price.
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The 166-meter-high Silberturm, also known as the Silver Tower, is located at Jürgen-Ponto-Platz in the immediate vicinity of Frankfurt’s CBD and offers a total area of around 50,000 square meters.
The transaction also included the directly adjacent “Campus Building” with an area of approx. 22,000 square meters. The single-tenant for both buildings is Deutsche Bahn AG with the group’s own service provider DB Systel its occupier.
“We are very pleased to have once again demonstrated our capabilities as an investment and asset manager in negotiating one of the largest transactions in the market – especially in the recent challenging market environment. We’ve implemented a consistent six-year asset management program with a great result. Silberturm truly is a landmark building and we will continue to identify and develop such attractive properties in the future to create sustainable value for our partners and investors,” said Daniel Reichwein, Managing Director at Hines.