ASG acquires “Büropark am Taunus” near Frankfurt
20th March 2014
23.0000 square meter office building in Eschborn has been sold by AXA
March 2014, Jersey – Activum SG Capital Management Ltd., the German focused real estate fund manager, has acquired a 23.000 square meter (240,000 square feet) office building in Eschborn from a fund managed by AXA.
The building is located in the heart of Eschborn, which is a suburban business park town about a 15 minute drive into Frankfurt City Center. Good Frankfurt city connections and a lower tax base attract many corporates to the area. The asset itself has excellent access to the motorway and public transportation.
Tenants are renowned corporates like Monster Worldwide Deutschland GmbH, Siemens Healthcare Diagnostics Holding GmbH, Hertz Autovermietung GmbH and pbb – Deutsche Pfandbriefbank AG.
ASG´s leasing group will pursue a tenant-specific business plan and reposition the asset.
As Head of Acquisitions of Activum SG Advisory GmbH, Richard Wartenberg notes, “this acquisition is similar to the Mannheim deal we completed six months ago – a high quality building with an excellent mix of tenants in a popular office submarket that we think will continue to attract companies going forward.”
Activum SG Capital Management Ltd. was advised by Berlin-based Olswang (Germany) LLP.