Deka Immobilien Sells Frankfurt Office Building to IMAXXAM

Deka Immobilien has completed the sale of the Lighttower office building in Frankfurt’s Ostend district. The property, formerly part of the Deka-ImmobilienEuropa open-ended real estate fund, was acquired by IMAXXAM for its German Small Asset Invest (GSAI) fund. The parties have not disclosed the purchase price.

The Lighttower offers more than 10,000 m² of leasable space and 87 parking spaces. It is nearly fully occupied by 13 tenants, with Frankfurt Economic Development as the main occupier. The property is situated on Hanauer Landstraße 126–128, close to the European Central Bank and Frankfurt Ostbahnhof railway station. Originally built in 1966, the building was extensively modernised between 2002 and 2005, including the addition of an extra floor.

The sale marks part of Deka-ImmobilienEuropa’s ongoing strategy to streamline and optimise its portfolio. According to Deka Immobilien, the property delivered a solid overall return for investors over the course of its holding period.