Hamburg Commercial Bank finances purchase of office complex for Wöhr + Bauer
- “forty6 west" in Frankfurt's City West will be modernized and repositioned as “Nexum”
Hamburg, December 7, 2021 - Hamburg Commercial Bank (HCOB) provides financing to Wöhr + Bauer GmbH (W + B) for the purchase and repositioning of an office complex in Frankfurt am Main. The parties have agreed not to disclose the amount of the financing.
The office building "forty6 west" is located in City West, a Frankfurt district characterized by an urban mix of office and hotel buildings as well as modern residential quarters and a variety of restaurants. Due to its excellent accessibility via Westbahnhof railway station and its proximity to the trade fair, City West is considered a popular location for international active companies.
The building, which was constructed in 2003, has three entrances and comprises a rental area of around 14,500 square meters on seven floors, plus 169 basement parking spaces. The floor plan is suitable for both contemporary open-plan and classic office space between 400 and 10,000 square meters. Within the next three years, most of the rental space will be modernized, and the goal is to achieve exemplary energy consumption and BREEAM (Building Research Establishment Environmental Assessment Method) certification for sustainable construction.
"We know the players at Wöhr + Bauer as accomplished experts who not only have many years of experience in real estate project development but are also established in the industry as investors and asset managers," said Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank. "For office properties in central locations, with modern facilities and a clear focus on sustainability, we continue to see demand and potential."
"We are delighted to have Hamburg Commercial Bank on our side for this project, and to work in partnership with the financing experts on site in Munich. The property has great potential, and we are convinced of the location in Frankfurt's City West," said Wolfgang Roeck, Co-Founder and Managing Director at W + B.
About Wöhr + Bauer:
Wöhr + Bauer GmbH is an owner-managed real estate company headquartered in Munich, Germany, that focuses on developing and investing in high-quality as well as sustainable commercial real estate. W + B was founded in 1991 and employs around 30 people in Munich, Stuttgart and Berlin.
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
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