Commerz Real, acting on behalf of its closed-end real estate fund CFB 49, has sold an office property in Wiesbaden’s Mainz-Kastel district, to a special purpose vehicle belonging to the real estate company Immo Raising. Erected in 1994, the office building, which is located at Lorenz-Schott-Strasse 4, comprises over 8,500m² of rentable area as well as an underground car park with 119 parking spaces and 68 off-site parking spaces. The purchase price was not disclosed.
The CFB fund 49 has a volume of approx. €20.5m, of which some €4.7m in equity capital. It was issued in 1994 as a leasing fund and will now be liquidated following the sale of the fund property.