Tishman Speyer acquisisce la “Bürohaus an der Alten Oper” a Francoforte

Tishman Speyer, one of the world’s leading developers,

owners, operators and asset managers of first-class real estate, has acquired the Bürohaus an

der Alten Oper, a trophy asset with value-add potential for its own, new German investment

management platform (KVG). Tishman Speyer Investment Management GmbH (TSIM) will

launch and manage open-ended and closed-end property Special Funds.

The first acquisition was made via a Special AIF for German insurance group Versicherungskammer. The seller of

the asset is a special purpose vehicle of the Mann group.

TSIM received a KVG license from the Federal Financial Supervisory Authority (BaFin) in May

this year. The unit will be headed by Frank Schäfer and Nils Skornicka. Schäfer has been a

Managing Director at Tishman Speyer since 1 June 2017 after having been recruited to

establish and drive the development of the KGV and expand institutional business in Germany.

Before joining Tishman Speyer, he worked for the Credit Suisse Group in Zurich and Frankfurt,

most recently as Global Head Product & Business Development in the Real Estate Investment

Management Division and as Managing Director of the Credit Suisse Asset Management

Immobilien KAG in Germany. Skornicka has been with Tishman Speyer for seven years now,

where he is responsible for transaction activities in Germany as Managing Director and Head

of Acquisitions.

The high-rise on Neue Mainzer Strasse 75, located in a park with undisturbed views of

Frankfurt’s iconic old opera house, encompasses 20.900 sq.m. of floor space which is leased to

twelve tenants, including financial service company Bloomberg, investment bank Lazar and law

firm Herbert Smith & Freehills. Built in 1984, the property formerly known as Citi-Hochhaus

was extensively renovated by the seller between 2015 and 2018. The 89-m tall building

received a LEED Gold sustainability certificate.

With Junghof, the OMNITURM development and the TaunusTurm in close vicinity, Tishman

Speyer has evolved to become one of the leading project developers and property managers in

the heart of Frankfurt’s banking district.

In the transaction, Tishman Speyer was advised by King & Spalding (legal & tax due diligence)

and Arcadis (technical due diligence). Clifford Chance (law) and property service company BNP

Paribas Real estate advised the seller.

Source : Joint press release