Allianz looks to take profits on Frankfurt’s Skyper tower

Allianz Real Estate has appointed BNP Paribas Real Estate and JLL to sell Frankfurt’s Skyper office complex.

According to Thomas Daily news service, the investor may achieve €550 mln for the 54,100 m2 38-storey tower and two adjoining buildings.

An Allianz spokesperson said the group does not comment on market rumour.

A sale at that level would show a strong return for Allianz which bought the complex in 2013 for approximately €300 mln from UBS Wealth Management’s Global Property Fund.

UBS is believed to have paid €400 mln when the manager bought the building in 2007 at the top of the last cycle.

Skyper is located in Frankfurt’s banking district in Bahnhofsviertel.


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