the acquisition in 2015 of the 23,000 sqm “City Gate“ (the former
Shell Tower) by an entity asset managed
by HRO Germany GmbH “HRO” at Nibelungenplatz 3 in the City sub-market
of Frankfurt, the building has been successfully refurbished and leased
on a long term basis to approximately 87% occupancy with grade-A
tenants, such as Land Hessen, to achieve the
successful repositioning of the “City Gate” office tower. The real estate consultant CBRE Frankfurt was exclusively mandated with the marketing and sales process. Clifford
Chance was the legal advisor for the seller, involved in this transaction.
The estimated Sales price was around 85 m Euro.
Source : Company