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Largest Real Estate Transaction in Germany in 2017 RFR Holding Sells Extraordinary Real Estate Portfolio to SIGNA Prime

Nachrichtenquelle: PR Newswire (engl.)
10.11.2017, 21:00  |  480   |   |   

FRANKFURT, Germany and VIENNA, November 10, 2017 /PRNewswire/ --

  • The portfolio comprises five Trophy Assets: Highrise "Upper West" in Berlin, the High Street assets "Kaufmannshaus" and "Alsterarkaden" in Hamburg, development "Upper Zeil" in Frankfurt as well as the 50% RFR shareholding of the project "Karstadt at Munich Main Train Station" 
  • Largest real estate deal in Germany in 2017 with a volume of c. EUR 1.5 Bn in the most sought after locations of the 4 largest German cities Berlin, Hamburg, Frankfurt and Munich 
  • The long-term portfolio of SIGNA Prime is further diversified through the acquisition in terms of rental income, usage mix and long-term leases

SIGNA Prime Selection AG has recently acquired an extraordinary portfolio, comprised of five Trophy Assets in absolute prime locations in Berlin, Hamburg, Frankfurt and Munich from RFR Holding GmbH. With an absolute transaction volume of c. EUR 1.5 Bn, the transaction is the largest real estate deal in Germany in the year 2017. This extraordinary portfolio of assets comprises five Trophy Assets: Highrise "Upper West" in Berlin, the High Street assets "Kaufmannshaus" and "Alsterarkaden" in Hamburg, development "Upper Zeil" in Frankfurt as well as the 50% RFR shareholding of the project "Karstadt at Munich Main Train Station". The other 50% of the project is already owned by SIGNA Prime.

In summary this portfolio of high street assets comprises c. 160,000 m² of lettable area, spread over c. 70,000 m² retail, c. 55,000 m² office, c. 17.000 m² Hotel, c. 1,000 m² gastronomy as well as c. 17.000 m² other areas. The assets all have long-term secured and creditworthy tenants as well as a diversified usage mix with additional value-add potential. The close to fully let portfolio will, as is customary for SIGNA Prime, be held for the long-term, and will ensure the continued diversification of the portfolio in terms of rental income, usage mix and long-term leases.

The acquired assets are: 

The newly built Upper West in Berlin, which with a height of 119 meters is one of the tallest buildings in Berlin, and will be used as an office, hotel and retail location. Thanks to its attractive architecture from Christof Langhof, the building has a high recognition value and occupies a special place in the booming City West. The Upper West is showing itself to be a landmark asset in the absolute prime location of Berlin next to the Gedächtniskirche. The new build is comprised of a tower with 34 floors as well as a podium with 8 floors, and was completed in September 2017. The c. 53,000 m² lettable commercial area are essentially fully let. Main tenants are Motel One, Görtz Lawyers, WeWork and Görtz Shoes.

The Alsterarkaden, at the Jungfernstieg in Hamburg, which is based on the historical designs of Alexis de Chateauneuf for the Hamburg Rathausmarkt, is seen with its corner location to the shopping street "Neuer Wall" as the entry gate to the Hamburg luxury mile. The Alsterarkaden offer office tenants a beautiful view over the Binnenalster and the Rathausmarkt. The retail tenants profit from the tourists which walk along the Jungfernstieg and the Neuer Wall. Tenants include Wempe, Swatch, Douglas, and many more.

The in 1905 constructed, and in 2013 revitalised Kaufmannshaus presents itself in Hamburg with the historical exterior of a Kontorhaus, in the middle of the traditional shopping square of Hamburg (Große Bleichen), and offers high quality retail and office space to tenants. The Kaufmannshaus not only offers excellent gastronomy, but also retail with Marc Cain, Suitsupply, Guess, etc. which invite you to shop. The central location has attracted office tenants like Rent24, shipping company Offen, Norton Rose Fulbright, FCB and Yelp to sign up as tenants.

The commercial building Upper Zeil is being developed in Germany's shopping street with the highest frequency, between Galeria Kaufhof and MyZeil. The impressive glass façade of the building will spread over 45 meters and offer views into and onto the Frankfurt Zeil from all floors. The Upper Zeil is currently still in development, and will prospectively be completed end of 2018. This chance to place themselves at the hot spot of Frankfurt is being used by labels such as Benetton, Reserved, and Vodafone.

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