Blackstone Said to Choose Hana as Preferred Bidder for $1.1B German Complex
Korea-based Hana Financial Investment is partnering with London-based asset manager AGC Equity Partners as the preferred bidder for Germany’s largest officer building.
The Frankfurt property is currently owned by Blackstone, who is preparing to sell the property for KRW 1.3 billion (USD 1.1 billion). The office building is near the Frankfurt airport, which, if sold, could result in continued momentum for international real estate acquisitions by Korean buyers.
Hana has pursued previous properties in Europe, with the company buying Charlemont Exchange in Dublin from local Irsh developer Marlet in April earlier this year. The deals represents increasing cross border transactions by Korean investors seeking international properties abroad.