Frankfurt-based real estate investor Conren Land has acquired the Deka Immobilien’s Scala West office property for a club deal.
The manage-to-core asset at Solmsstraße 83, Frankfurt, will be comprehensively upgraded.
Scala West, which was built in 2001, has a total lettable area of about 21,200 sq m and is currently around 95% let with a WALT of 2.5 years. The building’s key tenants include State Street Bank International, Rabobank and Commerzbank.
Plans include “an extensive, energetic” modernisation of the facade and renovation measures designed for sustainability, including switching to district heating, the installation of e-charging stations and improved sustainability certification.
“Scala West impresses with its timeless architecture and a very good location in the City West office market,” said Jan Ludwig Brügelmann, CIO of Conren Land. “ We will use targeted measures to make the striking building future-proof.”
The price was not disclosed.