Bahrain-based Investcorp on Thursday announced that its London-based real estate investment team has acquired Lyoner Stern, a multi-let office building located in Frankfurt, Germany.
The acquisition is Investcorp’s third real estate investment in Germany in the past 12 months, it said in a statement without giving a value for the deal.
Lyoner Stern is located in Niederrad which is considered a back-office location for financial institutions and companies operating in Frankfurt City.
Frankfurt is considered a major financial centre of the European continent, with many headquarters based there.
The modern building comprises 28,114 sq m of office space and is let to several German and international tenants. The building is shaped like a star, divided into four wings that are made up of 11 floors above ground and one floor below ground.
Babak Sultani, managing director, Real Estate Product Specialist at Investcorp said: “Over the past year, Investcorp has been looking for good properties within the major markets in Germany.
"As part of that strategy, we are delighted to announce the acquisition of Lyoner Stern. The building is situated in a well-established submarket of Frankfurt which, in recent years, has transitioned from a pure office location to a mixed-use area with growing residential and entertainment components”.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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