Mount Kellett Capital Management has acquired Astropark in Frankfurt’s Niederrad office district. This is the company’s first direct investment of a value-added real estate project in Germany. The deal was financed by pbb Deutsche Pfandbriefbank. Ashurst LLP assisted Mount Kellett, while the vendor was advised by Freshfields Bruckhaus Deringer. The transaction was brokered by Savills. Pamera Cornerstone will take over the property’s asset management. Built in 1992, Astropark offers 39,300 sqm of space and is 80 percent leased.
