PATRIZIA acquires iconic Eurotower in Frankfurt for Fubon Life

PATRIZIA Immobilien AG, a global partner for pan-European real estate investment, has acquired the Eurotower office building in Frankfurt for Fubon Life, one of the largest Taiwan-based insurance companies, for an undisclosed price.

The 148-meter (486-foot), 40-story building is the former headquarters of the European Central Bank (ECB) and is known as the “birthplace of the euro”. A division of the Bank — the ECB Single Supervisory Mechanism — is now the building’s sole occupier.

Philipp Schaper, PATRIZIA’s head of European transactions, commented: “This acquisition represents one of 2018’s most prominent transactions in Germany and closes what has been a very strong and successful year for PATRIZIA in terms of investment acquisitions. The Eurotower is a high-quality, landmark building and represents a sustainable investment for our client in a city with solid and indeed strengthening fundamentals.”

The Eurotower is located at Kaiserstrasse 29