Thursday 22 August 2019

Investcorp buys prime office property in Frankfurt

MANAMA, April 18, 2019

Investcorp, a leading global provider and manager of alternative investment products, has announced that its London-based real estate investment team has acquired Lyoner Stern, a multi-let office building located in Frankfurt, Germany.

This is Investcorp’s third real estate investment in Germany during the past 12 months, said a statement from Bahrain-based Investcorp.

Lyoner Stern is located in Niederrad, just nine minutes from the Central Station at Frankfurt, which is considered a major financial centre of the European continent, with many headquarters based there.

Niederrad is a back-office location for financial institutions and companies operating in Frankfurt City and offers companies an opportunity to rent space at a significant discount to Frankfurt City, it stated.

The modern building comprises 28,114 sq m of office space and is let to several strong German and international tenants. The star-shaped building is divided into four wings that are made up of 11 floors above ground and one floor below ground.

On the key acquisition, Babak Sultani, Managing Director, Real Estate Product Specialist at Investcorp, said: "Over the past year, Investcorp has been looking for good properties within the major markets in Germany. As part of that strategy, we are delighted to announce the acquisition of Lyoner Stern."

"The building is situated in a well-established submarket of Frankfurt which, in recent years, has transitioned from a pure office location to a mixed-use area with growing residential and entertainment components," he added.-TradeArabia News Service


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