Frankfurt’s Trianon skyscraper sells for €670m
A South Korean consortium consisting of IGIS and Hana Financial Investment has acquired the 45-story Trianon skyscraper in Frankfurt’s central business district from NorthStar Realty Europe. The €670m deal is expected to close by the end of the year. Cushman & Wakefield acted as an advisor. At 186 meters, Trianon is the sixth highest tower in the city and offers more than 61,000 sqm of office and 2,788 sqm of residential space. NorthStar Realty Europe bought the building in 2015 and has since acquired several high-profile tenants, including Deutsche Bundesbank. The LEED Platinum skyscraper is currently fully leased.
“The sale follows a comprehensive global marketing campaign, which saw the building generating significant interest from a broad spectrum of investors in Europe, China, Hong Kong, Singapore and South Korea. Our unique insight into the Korean market helped us to secure a high-quality buyer for the asset,” said Argie Taylor, head of APAC cross border capital markets at Cushman & Wakefield.