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Tristan Buys Two Frankfurt Offices for $118M

FRANKFURT-The buildings, at 375,000 square feet total, include some residential and retail. The properties were supposed to be purchased by a new German REIT, but the deal was put on hold.

By Robert Carr | Updated on March 16, 2012

FRANKFURT-Tristan Capital Partners, based in London, has purchased two office buildings here in the Bockenheim district through its CCP III Fund for $118 million. The properties are comprised of 375,000-square-feet of office, residential and retail.

According to a Tristan statement, the buildings had been intended to form part of a portfolio of assets in a new German listed REIT, but the trust was put on hold due to adverse market conditions. Cameron Spry, head of investments for Tristan, said the history of the two offices allowed a satisfactory purchase. “(The link) to the broader developments in German real estate investment legislation and trends in the equity markets allowed us to acquire them at a very competitive price,” he said in a statement.

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