The law firm Noerr has advised Sparda Bank Hessen eG on its acquisition of a high-rise office and hotel building still under development in the European District of Frankfurt. The building, which is located at the southern entrance to Frankfurt’s trade fair, is being developed by Gustav Zech Stiftung Management GmbH. The “Sparda Bank Tower” is to be completed by 2025 and is already largely leased on a long-term basis.
The 124-meter-high Sparda Bank Tower (407 feet) will have approximately 32,000 square metres (344,445 square feet) of usable space. The first 20 of a total of 36 above-ground floors will be used as a hotel with conference and wellness areas. The ATLANTIC Hotel Group has been won as a hotel partner. Above this, 14 floors of office space are available for rent in addition to the intended owner-occupancy by Sparda Bank Hessen. Long-term partners have already been found for half of the rental space. A branch of Sparda Bank Hessen with a locker facility is planned for the first floor.
Advisory of Sparda Bank Hessen eG on this real estate transaction was provided by Noerr Partnerschaftsgesellschaft mbB with the involvement of: Dr Alexander Jänecke (team lead, Real Estate, Frankfurt), Gregor Barbers (Real Estate, Düsseldorf), Ines Coenen (Public Law, Munich), Manuel Lomb (Real Estate, Munich), Dr Björn Grotebrune (Corporate, Munich), Dr Markus Zeibig (Real Estate, Dresden).