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Sign in Sign up for a FREE subscriptionHana Invest named preferred bidder for $1.1b Frankfurt office
South Korea–based Hana Financial Investment Co., along with London-based asset manager AGC Equity Partners, was named the preferred bidder for The Squaire, a commercial complex connected to the Frankfurt International Airport in Germany, offered at an estimated 1.3 trillion won ($1.1 billion), according to media outlets.
The seller of the 1.5-million-square-foot asset is Blackstone.
The nine-story office block was built above a train station that links Frankfurt to Cologne. Tenants include French tire maker Michelin, multinational consulting firm KPMG, German air carrier Rufthansa, IT service provider Atos and Hilton Hotel. It is linked to Terminal 1 of Frankfurt International Airport and three highways.
If completed it would be the latest in a growing series of cross-border real estate acquisitions by Korean buyers, as institutions from the North Asian nati