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GEG to acquire Frankfurt high-rise building for €280M

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GEG to acquire Frankfurt high-rise building for €280M

GEG German Estate Group AG agreed to acquire the Japan Center high-rise building in Frankfurt's banking district from Commerz Real for a total investment value of about €280 million.

The fully occupied 28-story property comprises roughly 29,000 square meters of leasable space and includes 115 underground parking spaces. The deal is expected to close in early 2018.

Commerz Real bought the property in 2002 for its hausInvest open-ended real estate fund.