UBS Asset Management (UBS AM) Real Estate & Private Markets (REPM) has acquired Eschersheimer Landstrasse 50-54, a prime office-led asset in Frankfurt, Germany from ELS Grundbesitz. The property comprises 6,117m² spread over seven stories. Built in 2002, the high-quality asset was extensively refurbished and upgraded by the vendor in the past 18 months to modernize and enhance floorplate flexibility, transforming it from a single to multi-tenanted property. Highlight features include an imposing entrance area, a spacious on-site garden and a roof terrace offering panoramic views across the city’s skyline. ELS 50-54 is fully-let, offering an attractive lease length and tenant mix comprising a diverse range of companies with strong covenants, including Handelsblatt newspaper and Land Hessen. The purchase price was not disclosed.
The property is exceptionally well located in the city’s central business district and directly opposite the Gruneburgweg underground station, providing strong accessibility across Frankfurt and beyond. It is also strategically positioned between the Westend and Nordend, two of the most desirable and affluent residential areas of Frankfurt, which has drawn a host of local and international occupiers to work in the vicinity.
Peter Rocker, Head of Transactions Germany, Real Estate & Private Markets, commented: “This acquisition adds to our recent purchase of the nearby Schiller27 property and clearly demonstrates our confidence in the Frankfurt office investment market. In line with the Fund's investment strategy, ELS 50-54 offers well-balanced income streams and attractive growth prospects, enabling us to deliver resilient returns for our client over the long-term.”
