Berlin, 26 June 2017 – The Berlin-based company Capital Bay GmbH (Capital Bay) has acquired an office property of around 14,000 m² in total in Frankfurt Niederrad. The building dating from 1985 is part of the “vibrant office city” of Niederrad. The seller is a global investment manager for alternative investments. The purchase price is in the low eight figures.
Capital Bay sees good value appreciation opportunities for the property by a stronger commercial occupancy rate. “The building has a higher vacancy rate, but is in very good condition. Niederrad is also an excellent office location with a great potential for comeback,” says Ralph Ziegler, Managing Director of CB Transaction Management GmbH. “In the long term, however, we could also imagine a change of use to residential.”
The “vibrant office city” of Niederrad has for some years been evolving from purely an office location with around 25,000 workers into a mixed residential and office district. More than 1,000 residential units have now been built; up to 10,000 people are expected to live here at some point. The district has excellent public transport links: The centre of Frankfurt can be reached in 15 minutes, Frankfurt Airport in just 10 minutes. The A5 motorway is on the doorstep.
Legal advice was provided to Capital Bay by Jung & Schleicher.