Spectacular hotel and residential tower in best location: Commerz Real invests in construction project in Frankfurt for open-ended real estate fund hausInvest

  • Cooperation between Commerz Real and Groß & Partner
  • New construction of a 140-metre hybrid tower on former AfE site highlight of the new Culture Campus Bockenheim
  • 4-star Meliá Hotel with 290 rooms and as many as 300 business apartments on a total of 40 floors
  • Completion scheduled for the beginning of 2019

One of the most spectacular new construction projects in the Rhine-Main region has been acquired by Commerz Real for its open-ended real estate fund hausInvest in the very heart of Frankfurt am Main. The contractual parties have agreed to maintain confidentiality with regard to the purchase price. The property is to be constructed on the 4,000-square-metre plot of land covered by the former AfE area at Senckenberganlage 15. The idea to build a 140-metre-high hotel and residential tower with a total floor area of 49,700 square metres was developed together with Groß & Partner. The Spanish hotel group Meliá has concluded a long-term lease agreement for a 4-star hotel on the lower storeys up to the 15th floor. As many as 300 apartments with an outstanding panoramic view over Frankfurt, the Taunus hills and the remainder of the Rhine-Main region are to occupy floors 16 to 40.

“With this transaction we are continuing to pursue our strategy of securing attractive assets for the fund in good time by getting involved at a very early stage and thus participating in the resulting value creation at a considerably earlier point in time. At the same time we are expanding our investment volume in the urban living segment – as demonstrated most recently with the commitment to the Burstah Ensemble in Hamburg,” explains Dr. Andreas Muschter, Chief Executive Officer of Commerz Real AG. “Moreover, with this landmark property we are pleased to be able to once again complete an investment in Frankfurt that is – quite literally – outstanding.”

Until February 2014 the construction land was the site of the 112-meter-high AfE tower, which was part of Frankfurt’s Goethe University. The area is now being developed into the Culture Campus; the south-eastern section – in the immediate vicinity of the trade fair grounds, the Goethe University, the Senckenberg Museum and the city’s West End – is to accommodate the tower. The building will be erected in cooperation with the initiator of the project, Groß & Partner Grundstücksentwicklungsgesellschaft mbH, which is also assuming the project management. Construction of the tower, for which an architectural competition is to start shortly, is to commence in 2016. Completion is scheduled for the beginning of 2019.

“We are investing in a first-class hotel and apartment project for hausInvest that will also cause a sensation outside of Frankfurt. With a height of 140 metres it will be a new feature on Frankfurt’s skyline and allow for a spectacular view across the city,” says Robert Bambach, responsible for real estate transactions on the board of Commerz Real AG. “Above all thanks to its inner-city location and the excellent access to transport links, this hybrid tower with its combination of hotel and residential usage provides a unique selling point. In Groß & Partner we have an experienced and highly professional partner at our side, who shares our high quality aspirations in every respect.”

With the Meliá brand a top-class hotel concept in an urban-modern style is enriching Frankfurt’s hotel sector. In addition to 290 rooms, the hotel offers underground parking, state-of-the-art conference and wellness facilities, as well as a “Sky Bar” on the 15th floor. The lease agreement has a term of 25 years with an option for a further 5 years.

Following completion the some 300 apartments will rank among the most coveted in the metropolis on the river Main. In addition to a high-class fit-out and a panoramic view closed to further construction, the residents will profit from the inner-city location and the exclusive services offered by the hotel (e.g. in the wellness area). Furthermore, they will have access to some 230 parking spaces in the underground garage.

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About Commerz Real
Commerz Real is a fully-owned subsidiary of Commerzbank AG with more than 40 years of market experience and approximately 32 billion euros in assets under management. The company combines comprehensive know-how in asset management and a broad-based structuring expertise to deliver its signature range of services of fund products focused on tangibles and bespoke financing solutions. The fund spectrum includes the open-ended real estate fund hausInvest, institutional investment products as well as entrepreneurial participations in real estate, aircraft, regenerative energy and ships. In its role as leasing company of Commerzbank Group, Commerz Real offers tailored equipment leasing concepts along with bespoke financing arrangements for assets such as real estate, big-ticket equipment and infrastructure projects.

Contact Commerz Real:
Markus Esser (Tel.: +49 611 7105-4485; E-Mail: markus.esser@commerzreal.com) or
Karolina Müller (Tel.: +49 211 7708-2563; E-Mail: karolina.mueller@commerzreal.com)
www.commerzreal.com

About Groß & Partner Grundstücksentwicklungsgesellschaft mbH
As one of Germany's leading owner-operated project development companies, Gross & Partner concentrates on the development of high-end office, residential, and hospitality properties. Rather than limiting its work to the property as such, Gross & Partner keeps its eye on the overall urban planning idea when realising capital works projects, such as Überseequartier, the centrepiece of HafenCity in Hamburg, or Gateway Gardens, the global business village at Frankfurt Airport City. Gross & Partner serves as one-stop provider of bespoke properties, covering the entire service spectrum from the planning stage to the handover. This leaves the company in control at every stage of a given project, and ensures delivery on the performance promised to the investors: to create long-term asset value.

Contact Groß & Partner Grundstücksentwicklungsgesellschaft mbH:
Dr. Kerstin Hennig (Tel.: +49 69 36 00 95-735; E-Mail: hennig@gross-partner.de)
www.gross-partner.de

About Meliá Hotels International
Meliá Hotels International (Palma de Mallorca, gegründet 1956) betreibt weltweit über 370 Hotels (Bestand und Pipeline) in mehr als 40 Ländern. Das börsennotierte, familiengeführte Unternehmen ist Marktführer in Spanien und eine der größten Resort-Hotelgruppen der Welt. Zum Portfolio zählen die Marken Gran Meliá, Meliá Hotels & Resorts, Paradisus Resorts, ME by Meliá, Innside by Meliá, Tryp by Wyndham und Sol Hotels & Resorts. Ein hohes Maß an Globalisierung, ein diversifiziertes Businessmodell, ein durch strategische Allianzen unterstützter Wachstumsplan sowie die Verpflichtung zu verantwortlichem Tourismus zählen zu den wesentlichen Stärken des Unternehmens. In Deutschland ist die Kette derzeit mit 24 Hotels der Marken Meliá, Innside und Tryp vertreten. Bis 2019 sind bereits Verträge für sechs weitere Hotels unterschrieben.

Contact Mélia Hotels International:
W&P PUBLIPRESS GmbH
Sabine von der Heyde, Sylvia König (Tel.: +49 89 660396-6; E-Mail: melia@wp-publipress.de)
www.wp-publipress.de

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15/09/2015 Uhr
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