TLG has acquired two high-grade properties in Frankfurt am Main. The seller is an American investor. Campus Carré, located in the office district of Niederrad, has a lettable area of around 31,500 sqm as well as more than 500 parking spaces. Around €85.7m of the purchase price is attributable to this property. The weighted average lease term (WALT) of the rental agreements is 4.7 years and the assetis currently 99 percent leased. The largest tenants include Hochtief Solutions, Techniker Krankenkasse and Steigenberger.
The purchase price of the second property in Mertonviertel amounts to €74.3m. The office building has a lettable area of 26,700 sqm, was built in 1993 and fully modernised in 2013. The office property has an occupancy rate of 100 percent and the WALT is 9.5 years. The property is rented by the global industrial concern Air Liquide as part of a long-term agreement. The transaction was brokered by Savills.
