PTXRE has advised a German insurance company on the acquisition of the “Overture” office property at Junghofstraße 13-15 in Frankfurt am Main. The seller of the property is a French investment manager. The purchase price was not disclosed.
The location benefits from the dynamic development of Frankfurt’s skyline. The six-storey property is located in one of the most prominent locations in Frankfurt’s banking district and comprises around 7,320 square metres of office space. The building was extensively revitalized in 2022 and has been awarded the LEED Platinum sustainability certificate. The property is fully leased to Commerzbank AG on a long-term basis.
Piotr Bienkowski, Managing Director at PTXRE, comments: “With the Overture property, a property has been acquired that combines stable income, a strong anchor tenant and an excellent downtown location. The transaction underlines that core properties with a clear ESG positioning and long-term development prospects are attracting great interest from institutional investors even in the current market environment.”
PTXRE acted as an advisor on the buyer’s side and accompanied the entire acquisition process until successful completion.
