04. März 2010 
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RREEF acquires Park Tower in Frankfurt
RREEF Investment GmbH has announced that the acquisition of the office building “Park Tower” in Frankfurt/Main has been completed today. The property had been purchased from a Morgan Stanley fund at the end of December 2009 at a cost of around €123 million for the open-ended real estate fund grundbesitz europa.
The prominent skyscraper in the centre of Frankfurt/Main features approximately 19,000 sq m of floor space on 28 floors. The building – originally constructed in 1972 – was completely renovated and modernized between 2005 and 2007 under the supervision of the renowned architects of Albert Speer & Partner and is currently let to the international law firm Freshfields Bruckhaus Deringer until 2017. Following the “Unilever-Haus” in Hamburg, the “Park Tower” is the second German property which RREEF has acquired for the open-ended real estate fund grundbesitz europa in the last three months.
Germany is currently a very interesting market for the open-ended real estate funds of RREEF. Additional acquisitions are planned in the future.
The prominent skyscraper in the centre of Frankfurt/Main features approximately 19,000 sq m of floor space on 28 floors. The building – originally constructed in 1972 – was completely renovated and modernized between 2005 and 2007 under the supervision of the renowned architects of Albert Speer & Partner and is currently let to the international law firm Freshfields Bruckhaus Deringer until 2017. Following the “Unilever-Haus” in Hamburg, the “Park Tower” is the second German property which RREEF has acquired for the open-ended real estate fund grundbesitz europa in the last three months.
Germany is currently a very interesting market for the open-ended real estate funds of RREEF. Additional acquisitions are planned in the future.
