blackolive brokers the sale of a modern core office building in Frankfurt
Frankfurt / 01.06.2022
Montano Real Estate GmbH, one of the leading independent investment managers in the German commercial real estate market, has completed the first transaction for its multi-investor special fund in the public sector, launched in April 2022, with the acquisition of a modern core office building in Frankfurt am Main. The seller on behalf of a family office is the Cells Group. The parties have agreed not to disclose the purchase price.
The property is a 5-storey modern office building built in 2002 with a lettable area of more than 8,000 sqm and 40 parking spaces, which is fully let to a total of eight tenants. More than 80 percent of the rental income comes from public sector tenants and government-related companies, the main tenant is the City of Frankfurt. The property is located at Salvador-Allende-Straße 11 in the Frankfurt-Bockenheim district and is characterised by its proximity to Frankfurt city centre and good accessibility by public and private transport.
The buyer was advised on the off-market transaction by blackolive, a member of the German Property Partners (GPP) network, legal advisors were McDermott Will & Emery, and technical advice was provided by ChandlerKBS. The seller was advised by HFK Rechtsanwälte PartGmbB.