Frankfurt am Main - Five professional pension funds acquire the hotel and office tower "THE SPIN" in Frankfurt city centre from Groß & Partner Grundstücksentwicklungsgesellschaft mbH. A team from Luther Rechtsanwaltsgesellschaft provided legal and tax advice to the buyers.
The project site, which is located directly on the Güterplatz in Frankfurt's city centre, will house a 32-storey hotel and office building with direct underground connections, including a "NH Collection" hotel. The 128m high building was designed by the renowned German-Iranian architect Hadi Teherani and is scheduled for completion in mid 2022.
The forward deal is a real estate project of various nationwide investing pension funds: The Ärzteversorgungen Niedersachsen, Sachsen-Anhalt and Mecklenburg-Vorpommern as well as the Tierärzteversorgung and Steuerberaterversorgung Niedersachsen.
For the pension funds:
For Groß & Partner Grundstücksentwicklungsgesellschaft mbH:
Hogan Lovells International LLP: Dr Dirk Debald (lead)