Patron Capital and its joint venture partner Sonar Real Estate have acquired Prisma, a landmark office building at Hahnstrasse 55 in Frankfurt, Germany, for an undisclosed sum. The vendor is Commerz Real.
Sonar will be responsible for the asset management and proposed repositioning of the building, which was built in 2001 and is currently vacant. Following the design and planning phases, the 42,450m² space will be comprehensively renovated with a focus on sustainability and air quality through technical upgrades, including a new HVAC system. Incorporating the latest technology, the scheme will provide future tenants with state-of-the-art office space to meet and exceed their increasingly stringent requirements.
The ground-floor areas, including an impressive lobby with glazed atrium, will become public spaces, incorporating F&B and fitness amenities to reflect the ongoing transformation of Frankfurt’s Lyoner Quartier district from an area that was once purely an office location into a vibrant mixed-use destination.
Christoph Ignaczak, Senior Partner at Patron Capital, said: “This project represents an exciting opportunity to create a state-of-the-art, attractive office property as well as a vibrant destination within a part of Frankfurt that has seen significant development and diversification in recent years. We are pleased to be working with Sonar to implement an ESG-focused management strategy from day one, and are confident that our concept will be well received by future tenants.”
Holger Hosang, Managing Partner of Sonar Real Estate, said: “Observing and implementing ESG criteria in development and refurbishment projects has become part of our corporate philosophy. Through our in-house expertise, we focus not only on environmental aspects but also on the social impact of our projects. Given its striking architecture and significant size, Prisma is a particularly exciting project in an excellent micro-location within the Lyoner Quartier. Our aim will be to preserve the property’s landmark status for future tenants while developing it into a modern and ESG-compliant building.”
