Real estate with a view - and a lot of potential.
Two tall residential towers, almost 400 primarily small apartments - a rare investment property in the financial metropolis of Frankfurt, changing hands with the help of JLL.
Multi-stage bidding process
Approx. 15,000 sqm
“This investment opportunity, with around 380 residential units in a central location in this business metropolis, was a unique opportunity for the buyer”.
Just 10 minutes’ walk from Frankfurt's city forest, the two residential towers making up the Castello residential complex dominate the skyline of the Sachsenhausen district – their size and potential cannot be ignored. This is a rarity in the Frankfurt real estate market, one of Germany’s most attractive investment locations, particularly given the residential area of almost 15,000 square metres divided into 382 residential units, around half of which are studios - a strong selling point in a city where smaller apartments are in short supply. The environment is also impressive: this is an urbane residential location close to the city centre in the trendy and highly sought-after Sachsenhausen submarket which benefits from good transport links and infrastructure. And it is here that this major property came up for sale.
From approaching investors to closing
JLL acted on an exclusive basis in an advisory and brokerage capacity for the seller, a Munich-based family office. The intention was to conclude an asset deal within a multi-stage bidding process by way of a secure transaction with a strong audit trail.
Our targeted approach to investors was met with great interest nationally and internationally. JLL assisted in the subsequent negotiations and provided structured guidance throughout each phase of the transaction process until its successful conclusion.
A housing company acquired the property for an open-ended real estate fund. The property is to be developed over the long-term.
Best prospects - a video of the investment property