GEG German Estate Group AG, acting on behalf of “GEG Deutschland Value I”, has purchased the Palazzo Fiorentino complex in Frankfurt-Sachsenhausen from BMO Real Estate Partners for c.€50m. The property comprises just under 11,000m² of office space and offers an underground parking facility for 102 vehicles. It is currently fully let to Bankhaus Metzler.
Palazzo Fiorentino was constructed in 2001 and comprises the ground floor plus six upper floors; a wraparound roof terrace adds to the building’s attractiveness. The standard floors can be divided into several self-contained rental units, with numerous separate entrances offering the possibility for house-in-house solutions. The scheme benefits from excellent visibility and easy access by private and public transport.
