TRIUVA Kapitalverwaltungsgesellschaft mbH (TRIUVA), the real estate investment manager with circa € 10 billion of assets under management, has sold the WestendCarree office complex in downtown Frankfurt to InfraRed Capital Partners Limited in form of a share deal. The parties agreed not to disclose the purchase price.
Constructed in the late 1980s and fully modernised in 2009/10, the building offers a total lettable area of approximately 30,000 m². TRIUVA acquired the building in 2014 on behalf of two of its funds and was also responsible for the asset management of the property.
The WestendCarree is located on the Grüneburgweg, a popular street in Frankfurt’s Westend district in direct proximity to a variety of shops, restaurants and parks. Frankfurt’s city centre is only a few minutes away. The property’s main tenants are the Max-Planck-Institut research organisation, financial services provider Natixis, Emirates Airlines, recruitment adviser Michael Page and 360T, a provider for online-trading platforms.
InfraRed Capital Partners Limited is a globally active investment management company with around $ 9 bn of equity under management. It has offices in London, Hong Kong, New York, Seoul and Sydney.
TRIUVA’s advisers on this transaction were Oceans & Company, BNP Paribas Real Estate, law firm Gleiss Lutz and Drees & Sommer.
Source : Company