Peakside Capital Advisors AG (“Peakside”), advised by LUWIN Real Estate (“LUWIN”), has acquired the OPTIONS office building at Europa-Allee 12 in Frankfurt am Main from the European asset manager Amundi Deutschland. The closing of the transaction already took place at the end of March, and the parties have agreed not to disclose the purchase price.
The OPTIONS was built in 2010, the total of almost 23,000 square meters of office and restaurant space extends over seven floors with five large roof terraces. Until the beginning of 2022, the building served as BNP Paribas’ German headquarters. Since then, the bank has been based in the newly built Senckenberg Tower.
A significant milestone for the property is the acquisition of Oldenburgische Landesbank (OLB) as an anchor tenant: The bank will take over around 3,600 square metres in OPTIONS and give up its previous headquarters in Theodor-Heuss-Allee in Frankfurt. In doing so, the financial institution is sending a clear signal for modern, central and sustainable office locations.
Other tenants in the building already include the German headquarters of the Premier Inn hotel brand, Hyundai Capital, ProCredit Bank and the Block House and Mosch Mosch Mosch restaurants.
With LUWIN Real Estate as operating partner, Peakside plans to upgrade the building from DGNB Silver to Gold as part of the implementation of a comprehensive ESG concept and to let it in full within the next three years. Simon Lutz, Partner at Peakside, says: “We are convinced that high-quality office properties in attractive locations represent a future-proof investment even in challenging market phases. With OPTIONS, we want to offer a sustainable and modern working environment at fair rental prices that meets both the needs of our tenants and the requirements of ESG standards. Boris Schran, Managing Partner at Peakside Capital, commented: “We remain convinced of the need and demand of companies for central, modern and sustainable office properties. We are therefore specifically looking for further comparable investment opportunities for our current Peakside Real Estate Fund IV.”
The OPTIONS is centrally located next to the Skyline Plaza in the Europaviertel, near the Frankfurt Trade Fair, and offers excellent public transport connections as well as optimal accessibility by individual means of transport. In the immediate vicinity there are numerous shopping facilities, restaurants and several hotels, including Mövenpick and NH-Collection hotels. Frankfurt Central Station is just 2 km away and the airport is 17 km away.
Peakside was advised on the transaction by LUWIN Real Estate, Drees & Sommer (Technical Due Diligence), HauckSchuchardt (Legal & Tax) and agradblue (ESG), while the sell-side was advised by Hogan Lovells (Legal & Tax), Arcadis and IC Immobilien (Asset Manager). Cushman & Wakefield acted as broker.
