Swiss Life buys in Frankfurt
Swiss Life Asset Managers has made an acquisition in Germany. It acquired a commercial building at Berger Strasse 147 in Frankfurt-Bornheim, an eastern district of Frankfurt close to the city center.
The property has around 3,700 sqm of rental space and was extensively renovated between spring and summer 2015. The most important tenants include the drugstore chain dm, the shoe retailer Deichmann, the department store Woolworth and the fitness studio Prime Time Fitness. The occupancy rate is 100%.
The parties have agreed not to disclose the purchase price. The seller of the property is an unnamed international investor. The purchase was made for the insurance business of Swiss Life Germany, according to Swiss Life Asset Managers. The transaction was supported by the German subsidiary Corpus Sireo. (ah)
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