Goodwin’s Frankfurt Real Estate team has advised on a joint venture consisting of an international fund and German management team Barings Real Estate Advisors on the sale of the Frankfurt office property astropark to TLG Immobilien. TLG Immobilien invested a total of €97.2 million in the purchase.
The office property astropark, built in 1992 in the quarter of Niederrad in Frankfurt/M, comprises approximately 39,300 square meters of rental space. The largest tenants in the building are B+S Card Service GmbH, ZVEI Zentralverband Elektrotechnik u. Elektronikindustrie e.V. and Fujitsu Technology Solutions GmbH.
The Goodwin team was led by partner Marc Bohne and included partner Heiko Penndorf and associate Felix Krüger in Frankfurt.