CONREN Land Acquires Frankfurt Office Building
Frankfurt — Paul Hastings, an elite global firm, announced that the firm advised CONREN Land in connection with the acquisition of an office building by way of an asset deal.
CONREN Land, a German real estate investor, has acquired the office building "Emporium" in the West End of Frankfurt. The previous owner was the Bavarian Medical Association (Bayerische Ärzteversorgung), represented by the Bavarian Chamber of Pensions (Bayerische Versorgungskammer). The parties have agreed not to disclose the purchase price.
The property was built in 2003 and offers more than 4,500 square meters of office space and 400 square meters of storage space. It is fully leased; the largest tenant is the consulting firm Ebner Stolz. The building has its own underground parking area.
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About CONREN Land
CONREN Land is an investment firm with a total of five offices, its headquarters is located in Frankfurt am Main. The company has been managed by its owners since 2007. Its range of services comprises of the development of the investment profile, the acquisition of properties, the structuring of investment vehicles, financing, purchase due diligence, and the ongoing management including leasing, construction measures, bookkeeping, service charge statements, and reporting, as well as the sale of properties. In the past two years, CONREN Land generated a transaction volume of approx. EUR 1.2 billion.