IGIS and Hana pay NorthStar €670m for Frankfurt skyscraper

Korean firms IGIS Asset Management and Hana Financial Investment have bought the 45-story Trianon skyscraper in Frankfurt, Germany, from NorthStar Realty Europe Corp.

The sales price was €670 million ($758 million).

Completion is expected before year-end 2018 and is subject to customary conditions.

Constructed in 1993, the 68,000-square-meter (732,000-square-foot) skyscraper has a distinctive delta shape, topped by a polygonal diamond.

Located at Mainzer Landstrasse, in the center of Frankfurt’s banking district, it is the sixth-highest tower in Frankfurt at 186 meters (610 feet) and comprises 61,304 square meters (659,870 square feet) of high-specification office space, in addition to 4,345 square meters (46,769 square feet) of ancillary space and 2,788 square meters (30,009 square feet) of residential space.

Since acquiring the asset in July 2015, NorthStar Realty Europe Corp. has completed numerous value enhancing initiatives including leasi