Aareal Bank sells Main Triangle building to WCM for €92 mln (DE)

Aareal Bank Group has sold the Main Triangle building in Frankfurt to WCM Beteiligungs- und Grundbesitz AG for approx. €92 mln. The closing of the transaction is expected for September 2015.
The seller of the property is Main Triangel GmbH, a subsidiary of Aareal Bank AG. Aareal Estate AG supported the sales process as transaction advisor. Aareal Bank has supported Main Triangel from the project planning phase in 2001 to the construction and letting phase until today.
The German property investment market is currently characterised by a high demand for high-quality properties in particular. For this reason, Aareal Bank decided to sell the well-let property at the present time. Through this transaction Aareal Bank generates a single-digit million amount to be recognised in the income statement.
Source: Aaereal Bank