CommerzLeasing und Immobilien, a unit of Germany's Commerzbank, has won the auction for the Hessen portfolio, EuroProperty reports in its forthcoming November edition.
CommerzLeasing paid between 1bn and 1.1 bln for the portfolio, sources familiar with the situation told EuroProperty. Last week, Hessen's finance minister said he expected to raise at least 1.03 bln for the portfolio. Originally, the state of Hessen expected to get 800 mln for the portfolio, which includes the Frankfurt police station and the interior ministry of Wiesbaden. The portfolio had attracted a wide range of international bidders.