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German Estate Group secures loan for €275M Frankfurt tower buy

Münchener Hypothekenbank eG is providing a long-term loan to GEG German Estate Group AG to fund the acquisition of the Garden Tower office building in Frankfurt.

GEG is acquiring the property from Tristan Capital Partners LLP-managed fund Curzon Capital Partners IV in a deal that reflects a total investment volume of about €275 million.

The Munich-based bank said the loan will be in the several-hundred-million-euro range and it will act as the sole underwriter for the transaction.

Located at Neue Mainzer Strasse 46-50, the 95% occupied Garden Tower spans 27,000 square meters of rentable office space and features 111 parking spaces underground. It lists Société Générale SA, AIG Europe Ltd. and coworking space provider Tribes as among its tenants.