PATRIZIA AG has acquired ML69, a multi-let office building in Frankfurt, on behalf of one of its German commercial funds.
Located in the CBD of Frankfurt, the property is situated on Mainzer Landstraße in the heart of the city’s banking district, one of the strongest office locations in Europe.
“ML69” which comprises around 5,000 sqm of lettable space arranged across six floors, is 100% let.
“This transaction presents an attractive opportunity to acquire a high quality, fully let office building generating sustainable income in one of the top seven real estate markets in Germany. Leveraging our expertise, we have already identified an asset management plan to capture reversion and grow income,” said Thomas Otto, Associate Director Transactions Germany at PATRIZIA.