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Transactions - DECEMBER 6, 2019

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Hana Financial buys Frankfurt office complex from Blackstone

by Andrea Zander

Hana Financial Investment Co. has closed on the 1.3 trillion won ($1.1 billion) purchase of Germany’s largest office complex in Frankfurt from Blackstone.

For the acquisition, Hana Financial partnered with London-based AGC Equity Partners, and each invested 270 billion won ($227 billion) in equity, according to other media outlets. The transaction was first reported by Korean news outlet MoneyToday on Dec. 3 and confirmed by the sources.

With total rental space of 140,000 square meters (1.5 million square feet), the complex is directly connected to Terminal 1 of Frankfurt Airport through a pedestrian bridge. Tenants include consulting firm KPMG, German carrier Lufthansa, French tire maker Michelin and Porsche Consulting.

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