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Frankfurt’s Marienturm goes to DWS – €830m price reported

Aermont Capital has confirmed the sale of the 38-storey Marienturm office building in Frankfurt, Germany, to an entity managed by DWS.

The sale price of the 45,000 sq m building has not been disclosed, but German language real estate publication Thomas Daily reports that the figure is close to €830 million and also said that DWS has made the purchase on behalf of the National Pension Service of Korea.

The building is located in Frankfurt’s banking district and meets high ESG standards – it has been awarded a LEED Platinum certificate, in particular for energy and water efficiency. Tenants include Goldman Sachs, Bank of America and Mastercard.

Aermont sold the building on behalf of an affiliated fund. Pecan Development acted as development manager for the project and JLL and BNP Paribas Real Estate acted in the sale.

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