In a deal worth €540m, Madison International Realty finalized the sale of its stake in the Trianon office tower in Frankfurt to NorthStar Realty Finance. The city’s landmark scheme was jointly owned by Madison and Morgan Stanley’s Eurozone Office Fund.
Madison bought a 57-percent stake in the project from Morgan Stanley’s P2 Value fund in 2012 when the building was was 85 percent leased. “At the time of purchase, we were certain that, with the right partners and the right business plan, we would be able to increase the value of this prestigious building in the financial district of Frankfurt,” said Ronald Dickerman, Madison’s founder and president.
