Savills acts as sole agent on CELLS Group’s purchase of a modern office Property in Frankfurt's Gallus district

20 December 2016

Deutsche Fonds Holding AG (DFH) has sold a six-storey office building in Frankfurt's emerging Gallus district for approximately €36m.

The property at Lahnstrasse 60 was built in 2001. The purchaser is real estate specialist CELLS Group, comprising developer CELLS Bauwelt GmbH and asset manager and project manager CELLS Property Investors GmbH.  The single-tenant property measuring approximately 13,900 sq m was acquired on behalf of a private investor. DFH disposed of the property from the fund portfolio acquired from the former IVG AG in 2014. International real estate services provider Savills acted as sole agent on the transaction.

“The ensemble comprising offices with integrated residential accommodation is among the refurbishment projects that has made a significant contribution to the transformation of Frankfurt's Gallus district,” says Jürgen Schmid, Director Investment for Savills in Frankfurt.  “The long-term lease with Commerzbank AG, flexible floor plates and good links to the city centre and Messeviertel district make the building a property that fits ideally into the CELLS Group portfolio.” Commerzbank uses the modern space for parts of its back office, which it has re-located to Gallus from the financial district.

 
 

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Key Contacts

Jürgen Schmid

Jürgen Schmid

Director
Investment

Frankfurt

+49 69 273 000 18