Singapore’s government investment fund GIC has mandated GEG German Estate Group AG, one of Germany’s leading real estate investors, to build and manage a value-added real estate portfolio.
The focus of investment activity will be on the leading German office real estate markets. GEG has already acquired the first property for the new fund with the “Börsencenter” in Frankfurt and will significantly expand the portfolio with further acquisitions.
The office building in Schillerstraße 19-25, located in Frankfurt’s banking district, is a six-story commercial building with 8,600 square meters (93,000 square feet) of rental space. GEG will modernize it and reposition it in the market.
The seller of the property is a fund managed by European investment and asset management company Catalyst Capital.
