SEPTEMBER 17, 2014

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Blackstone to sell German office for €250m

by Andrea Waitrovich

The Blackstone Group has agreed to acquire Messeturm, an office property located in Frankfurt. The sales price is estimated to be €250 million ($328 million). The sellers were GLL Real Estate Partners and KanAm Grund.

The building is considered to be Frankfurt’s second-tallest building. It is 63 stories high, totaling 668,821 square feet. Major tenants include Goldman Sachs, BNY Mellon, Thomson Reuters Corp., and Simmons & Simmons.

Blackstone has also acquired another Frankfurt office building. With its partner Finch Properties, Blackstone acquired the Pollux office building. The 344,448-square-foot property is estimated to sell for €100 million ($131.2 million). The seller was IVG Immobilien. 

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