German property investor Aerium bought the BBW office building in Frankfurt from Aurec Real Estate Europe for a reported €140m. The building offers 35,000 sqm of leasable space. Aerium is targeting class A office properties in major German cities. This is its first acquisition on the Frankfurt market. Aurec acquired the building in 2013 and sold it with long-term leases in place to KfW and Deutsche WertpapierService Bank. Aerium currently has €4.3bn in assets under management and runs 16 funds. The company recently sold a trio of Polish shopping centers to Newbridge.
