ABG Real Estate Group has now acquired ODDO BHF Tower in Frankfurt together with the joint venture partner HanseMerkur Grund Vermögens AG from Hamburg. After the sole tenant ODDO BHF moved out in 2024, the protected high-rise tower is to be redesigned and revitalized to the highest quality. The expected total investment volume is over EUR 300 million.
The property is currently fully let to ODDO BHF, which has been using the building for several decades, initially as the owner and later as the tenant. The new conception and implementation will be carried out in two phases by the ABG Real Estate Group. First, the entire property is conceptually developed within the framework of planning law and monument protection law to meet the new market standards and top new building quality. The implementation and construction will take place after the tenant has moved out and is expected to be completed by 2027 at the latest. The seller of the property is a private investor, the sales process was managed by CBRE, the law firms Hengeler Mueller and Wagensonner accompanied the transaction, and the financing was provided by DZ Hyp.
Ulrich Höller, managing partner of ABG: “With the acquisition of this extraordinary landmark property, ABG has returned to the Frankfurt real estate market as an investor and developer, of which I am personally very convinced! After the revitalization, the icon between modernity and tradition will again play a prominent role in the Frankfurt architectural landscape. This is what we stand for, together with our partner HanseMerkur. ”
Lutz Wiemer, Deputy Chairman of the Management Board of HanseMerkur Grundbesitz: “The joint venture with ABG on this prominent property is once again a sure sign for us that we are not only perceived as an investor, but that we are now also a potential project and financing partner have established. “