Patrizia acquires office complex in Bad Homburg

Patrizia Immobilien has acquired the Marienbader Höfe office property in Bad Homburg. Patrizia bought the property from Commerz Real on behalf of the ‘Gewerbe-Immobilien-Deutschland III’ fund. The purchase price was not disclosed. The nine-storey Marienbader Höfe property was built in 2000. An €11m refurbishment programme carried out in 2016 converted the property into a multi-tenant building with 27,000 sqm of lettable space and 500 underground parking spaces. Current tenants include The Deutsche Leasing Group, First Data and Fresenius.