CapitaLand acquires first office building in Germany

CapitaLand has acquired the multi-tenant Main Airport Center (MAC) in Frankfurt. This is the Singapore-based real estate group’s first office acquisition in Germany. The property was purchased at an agreed value of €245m through a joint venture. “The acquisition of MAC leverages the group’s 15 years of experience in Germany and will add to CapitaLand Group’s network of commercial buildings in Asia,” said Lim Ming Yan, president and CEO of CapitaLand. MAC is strategically located close to the Frankfurt airport. The property is expected to attract more tenants when a new metro station, just 600 meters away, opens in 2019.