AEW has acquired, on behalf of its City Office Germany Fund, an office tower at Hahnstraße in Frankfurt’s submarket of Niederrad, from Deka Immobilien.
The AEW City Office Germany Fund, a German real estate Spezial-AIF, primarily focuses on identifying properties offering value potential in either established or developing areas within Germany’s top six cities. The property was previously held by the open-ended real estate retail fund Deka Immobilien Europa.
The 14-story Quadra building offers 10,000 square meters (107,639 square feet) of lettable area, as well as 159 parking spaces, and is nearly fully occupied.
Lars-Henning Pylla, fund manager of the AEW City Office Germany at AEW, said, “Frankfurt-Niederrad is gradually transforming itself from a classic back-office location into a vibrant working and residential district, which aims to provide efficient and well-connected office spaces such as Quadra tower. The acquisition further diversifies the fund
