Momeni Group’s Acquisition of The Fürstenhof Property in Frankfurt

GSK Stockmann advised Deutsche Fonds Holding on the deal.

Deutsche Fonds Holding GmbH, Stuttgart, announced the sale of the Fürstenhof property in Frankfurt am Main to the Hamburg-based Momeni Group.

The salient property next to the Gallusanlage park in Frankfurt’s banking district was originally inaugurated in 1902 as the “Palasthotel Fürstenhof”, and now features more than 18,000 square metres of rental space and around 200 parking garage spaces.

The property’s primary tenant is Commerzbank AG, which has rented 97.5 per cent of the space. That contract ends on 31 December 2021. The remaining 2.5 per cent is being rented to restaurants or used as retail space. The buyer is planning to carry out a redevelopment.

Deutsche Fonds Holding launched the closed-end real estate fund 97 “Fürstenhof” Frankfurt am Main (“DFH Fonds 97”) in 2010 with an equity volume of 89.1 million euros and a total investment volume of 144.1 million euros.

The GSK Stockmann team included Johann Rumetsch (Picture – Lead); Associates: Volkan Cakir and Duc Hieu Le (both Real Estate Transactions & Investments).

Involved fees earner: Volkan Cakir – Gsk Stockmann; Duc Le – Gsk Stockmann; Johann Rumetsch – Gsk Stockmann;

Law Firms: Gsk Stockmann;

Clients: Deutsche Fonds Holding AG;

Federica Tiefenthaler

Author: Federica Tiefenthaler