The real estate project developer QUEST Investment Partners and the Munich investment specialist Competo Capital Partners have founded a 50:50 joint venture and thus acquired an office complex at Baseler Strasse 46-48/Gutleutstrasse 80-82 in Frankfurt from Peakside Capital. The three houses dating from 1957 and 1994 combine almost 13,000 square meters (139,930 square feet) of rental space. The approximately 4,700 square meters (50,590 square feet) property also includes 129 parking spaces.
Baseler Strasse 46-48 is one of the last development plots in the Bahnhofsviertel, between the trade fair, the main train station and the city center. Thanks to its central location, the building ensemble has excellent connections to local public transport. There are also numerous shopping opportunities and dining options within walking distance.
“Our joint venture is ready to significantly upgrade the Bahnhofsviertel district with attractive design measures and a corresponding investment. We are pleased about the cooperation with Competo and about having a reliable partner by our side for this exciting project, ”explains Theja Geyer, Managing Partner of QUEST Investment Partners.
“We were convinced of the potential of the property in the dynamic station district from the start,” says Boris Schran, Managing Partner and Co-Founder of Peakside Capital. The company had only acquired the office complex in 2018. “We have now used the strong market phase to sell.”
Colliers Frankfurt advised the seller on the transaction. QUEST Investment Partners and Competo Capital Partners received legal advice from SNP Schlawien and GSK Stockmann, both from Munich, as well as tax advice from Hansa Partner Rommel & Meyer from Hamburg. Peakside was advised by Baker McKenzie (legal) and HauckSchuchardt (tax).