Quest Investment Partners has acquired the commercial and residential building Friedrich-Ebert-Anlage 54 in Frankfurt am Main from MEAG, the asset manager of Munich Re and ERGO. The puchase price was not disclosed.
Built in 2002, the property is located between the Central Business District and the sought-after Westend area and comprises some 3,800 m2 of lettable office space.
The building includes 29 underground parking spaces. When the current main tenant moves out in July 2022, Quest intends to give this building with its striking architecture a visual upgrade and to reposition the office spaces. The layout allows for flexible use, with 570 m2 per floor. Be it as a multi-tenant or single-tenant property: the spaces are suitable for individual, double or open-plan offices.
“The property blends into the course of the road like a triangle and offers not only a fascinating architecture and a superb location but also an exquisite view of Frankfurt’s skyline, the park opposite and the trade fair grounds. It is a perfect match for our Frankfurt portfolio with extraordinary properties such as the former “office pyramid” building of Deutsche Bahn, Hotel Hohenzollern at the central station and the new Kreisler building”, explains Luis Walther-Kraft, Head of Transactions & Partnering at Quest Investment Partners.
“As an asset manager for insurance companies, we focus our capital investments on properties of excellent quality in prime locations. This allows us to make good use of our options at any time. We congratulate Quest Investment Partners on a unique property with great potential. We would like to thank them for the excellent cooperation and wish the new owners lots of success for the future”, comments Katrin Hupfauer, Head of Real Estate Transactions at MEAG.
Due to its central location, the property is optimally connected to all transport routes: the U-Bahn stop “Messe” is only a one-minute walk away, the international airport can be reached in ten minutes and the central station in three minutes by car.
BNP Paribas Real Estate conducted a structured bidding process, acting as broker on behalf of MEAG. Quest Investment Partners was advised by SNP Schlawien on legal matters, by HANSA Partner Rommel & Meyer on tax matters and by Bohnzirlewagen on technical matters.