AEW acquires office tower in Frankfurt-Niederrad

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