Publity sells St. Martin Tower in Frankfurt to Barings
Transactions - OCTOBER 8, 2019

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Publity sells St. Martin Tower in Frankfurt to Barings

by Released

Publity AG has agreed to the sale of St. Martin Tower located in Frankfurt.

The property is being purchased by a joint venture between Barings, on behalf of institutional investors, and the listed firm Coreo AG, for a pan-European core investment strategy.

The transaction is expected to close in 2019. Through this deal, Publity is realizing the second profitable sale of a property from its own portfolio.

Publity acquired the St. Martin Tower, which has a leasable area of approximately 26,000 square meters (280,000 square feet) in April 2019, through its subsidiary Publity Investor Gmb.

The office complex is almost fully leased with high-rent tenants and is in a prominent location in west Frankfurt. The property consists of two interconnected buildings, the 18-story Tower and the seven-story Wing. The property also has 397 car parking spaces.

Thomas Olek, CEO of Publity, commented, “The sale of St. Martin Tower underpins our well-functioning and

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