PGIM Real Estate has sold the iconic office campus “Adlerwerke” in Frankfurt am Main to Quantum, who acquired it on behalf of a club of its German institutional investors. PGIM Real Estate is the real estate investment business of PGIM, the global investment management businesses of Prudential Financial.
The office campus comprises five buildings with a total lettable area of about 80,000m², and is well-known for its historic brick buildings from the early 20th century. The buildings were fully refurbished and complemented by new buildings in 1997 and 1998. Deutsche Bahn and Wunderman are two long-term occupants at the fully leased property.
Adlerwerke is approximately two kilometres west of Frankfurt’s prime central business district in the upcoming city district of Gallus.
BNP Paribas Real Estate and Freshfields Bruckhaus Deringer advised PGIM Real Estate on the sale of Adlerwerke. Quantum was represented by Clifford Chance.
