Warburg-HIH Invest, acting on behalf of its “Deutschland Selektiv Immobilien Invest” special AIF, has acquired Dock A and Dock B of THE DOCKS project in Frankfurt am Main. Developed by Gross & Partner, the new-build office scheme comprises c.9,300m² and was completed in September 2019. The occupancy rate is c.96%. The tenants include Regus and the publishing house Verlag fur Standesamtwesen. The purchase price was not disclosed.
The project THE DOCKS is located near the ECB head office in the Osthafen area of Frankfurt. In recent years, the location has undergone a very dynamic development. “The area has seen, and continues to see, quite a number of office, residential and hotel developments; the city granted ground leases here, especially in first-line waterfront locations,” said Hans-Joachim Lehmann, Managing Director of Warburg-HIH Invest. “Frankfurt’s Ostend is defined by a dynamic and creative environment and benefits from a diversified use-type structure, set inside a prospering urban environment. The immediate surroundings of the property are home to hotels, numerous restaurants and bars, renowned interior decorating and design companies as well as leisure, sports and cultural amenities.”