Invesco sells Frankfurt mixed-use asset for €200m
Invesco Real has sold a prime mixed-use office and retail asset in Frankfurt to LUWIN Real Estate Managers, a partner-operated investment boutique specializing in property investment and asset management services, based in Frankfurt.
The sales price was €200 million ($220 million).
Christoph Schiller, director at LUWIN, said, “We are delighted to acquire this premium property in a central Frankfurt location and to drive forward our investors' core investment strategy. The property has a strong potential for value enhancement, which will materialize through active asset management in parallel with the new inner-city developments in the coming years.”
The asset, Neue Mainzer Straße 74+80 in Frankfurt (Ma’Ro), comprises two, high-quality properties over 3,000 square meters (32,000 square feet) located a highly sought-after office market in Frankfurt. Around 70 percent is allocated to office space and approximately 25 percent, to retail space. The office sp