L’Etoile Properties acquires Grand Central for a fund

L’Etoile Properties acquires Grand Central for a fund managed by Amundi

Hamburg, 28 September 2017 – A fund managed by Amundi Real Estate has acquired the office space with 52,000 sqm BFA of the “Grand Central” project in Frankfurt from Phoenix and Groß & Partner. The offices were let by Deutsche Bahn for DB Netz, which will unite a total of 2,200 employees from different city areas.

The seven upper floors and two lower floors offer 45,290 sqm of lettable space. Completion is planned for the second half of 2020. In addition to the new office construction, a hotel, offices and several residential buildings are being built on the site of the former post office centre next to the main train station. The existing high-rise building used by Commerzbank will be renovated.

The sellers were advised by BNP Paribas Real Estate, Herbert Smith Freehills and Albrecht + Grunert, Steinhaus & Prof. Dr. Griesar. On the buyer’s side, the transaction was accompanied by L’Etoile Properties and Clifford Chance.

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