DekaBank has arranged and fully underwritten a 7-year €92m senior investment facility for the acquisition of the Pollux building on behalf of two institutional investors being advised by Schroders Real Estate Investment Management. The Pollux is a 130m high-rise office tower located in the Europaviertel/Messe area of Frankfurt extending to 35,155m².
Amar Latif, who is responsible for DekaBank’s German origination business, commented: “The property was recently refurbished and is now almost fully let to good tenants on a reasonable Weighted Average Lease Length in an improving office location. There is the added attraction of potential upside on the current rents which together with very conservative Day One leverage and strong sponsor makes this an attractive financing proposition for DekaBank."
