AXA Investment Managers – Real Assets, acting on behalf of clients, has sold the 80,500-square-meter (866,000-square-foot) die welle office complex in Frankfurt for €620 million ($704 million).
The new owner of the property is Invesco Real Estate, a global real estate investment manager.
AXA IM – Real Assets, acting on behalf of its client, acquired the asset, along with the Neues Kranzler Eck building in Berlin in 2013 and undertook an extensive redesign and refurbishment of the building’s public areas and exterior spaces to create a vibrant new city center destination.
The transaction is expected to close in fourth quarter 2019.
