HSH Nordbank is providing development financing amounting to €228 mln to the Tishman Speyer Group for the development of a high-rise building at the heart of Frankfurt's financial district. The project is being developed for the latest Tishman Speyer "Value-add" real estate fund in Europe.
A mixed-use high-rise building around 175 metres high will be built in Grosse Gallusstrasse on a plot of land measuring around 2,400 m². Following the successful completion of the MesseTurm, OpernTurm and TaunusTurm projects, Tishman Speyer is further expanding its activities in Frankfurt with this new project. Construction is scheduled to begin this year and the building is due to be completed by the end of 2018.
"The Frankfurt real estate market remains attractive to both German businesses and inter-national investors. It is not least for this reason that we recently opened an office in Frank-furt's financial district. We have a long-standing business relationship with Tishman Speyer, in the course of which a professional management team has repeatedly demonstrated its extensive expertise and in-depth knowledge, including with regard to the German commer-cial real estate market", said Peter Axmann, Head of the Real Estate Clients division at HSH Nordbank.
Source: HSH Nordbank