Drestate sells Frankfurt’s Rahmhof/Schillerpassage to InfraRed and relies on act legal Germany's advice.
The office building - located directly in the centre of Frankfurt - contains a big public underground car park and a shopping mall with shops and restaurants of approximately 900 m² in the ground floor. The total rentable area is about 8,900 m². The building under preservation order was built with a neoclassicist front in 1907 and was extensively redeveloped in 1992. In 2007, the listed real estate company Drestate (Deutsche Real Estate Aktiengesellschaft) acquired the property, which is located nearby the old building of the Frankfurt Stock Exchange.
Drestate is selling Rahmhof/Schillerpassage to InfraRed Capital Partners, a British investor and a global asset manager with more than 120 employees and a strong focus on real estate.
The parties have agreed not to disclose the purchase price.
The team of act legal Germany, AC Tischendorf, was headed by Dr. Tara Kamiyar-Müller and Dr. Matthias Müller, MBA. act legal Germany advises Drestate regularly in all aspects of real estate law, including ongoing real estate administration and transactions.
Find the press release here (in German language only): http://www.immobilien-zeitung.de/1000051472/frankfurter-schillerpassage-gehoert-jetzt-infrared?src=newsletter&utm_source=Newsletter&utm_medium=E-Mail&utm_campaign=Tages_Newsletter_2018-03-27