QUEST Investment Partners and Competo acquire office complex in downtown Frankfurt from Peakside Capital

QUEST Investment Partners and Competo acquire office complex in downtown Frankfurt from Peakside Capital 2400 1599 QUEST Investment Partners


QUEST Investment Partners und Competo erwerben Bürokomplex in Frank­furter City von Peakside Capital

Hamburg/Munich, 30 September 2019. The real estate project developer QUEST Investment Partners and the Munich-based investment specialist Competo Capital Partners have formed a 50:50 joint venture, acquiring an office complex at Baseler Straße 46-48 / Gutleut­straße 80-82 in Frankfurt am Main from Peakside Capital. The three buildings from 1957 and 1994 offer a combined rental space of almost 13,000 m². The plot measures some 4,700 m² and includes 129 car parking spaces.

Baseler Straße 46–48, one of the last devel­opment sites in Frankfurt’s Bahnhofsviertel (area around the central station), is situated between the trade fair grounds, the central station and the city centre. Thanks to its central location, the building ensemble offers outstanding local transport connec­tions. A large variety of shops and restau­rants can also be found within walking distance.

“Our joint venture is ready to signif­i­cantly upgrade Frankfurt’s Bahnhofsviertel through attractive design measures and the corre­sponding investment. We welcome the cooper­ation with Competo and are delighted to have a reliable partner at our side for this exciting project,” explains Theja Geyer, Managing Partner at QUEST Investment Partners.

“The potential of this property in Frankfurt’s dynamic Bahnhofsviertel convinced us right from the start,” says Boris Schran, Managing Partner and co-founder of Peakside Capital. The company only acquired the office complex in 2018. “We have now taken advantage of the strong market phase to sell it.”

Colliers Frankfurt acted in an advisory capacity for the seller during the trans­action. QUEST Investment Partners and Competo Capital Partners received legal counsel from SNP Schlawien and GSK Stockmann, both from Munich. Tax advice was provided by Hansa Partner Rommel & Meyer from Hamburg. Peakside was advised by Baker McKenzie on legal matters and by Hauck-Schuchardt on tax matters.

About Competo Capital Partners

Competo Capital Partners is an owner-operated and independent real estate company based in Munich. Our core compe­tencies are focused on custom-tailored-invest­ments in German project devel­op­ments with equity and mezzanine loans as well as long-term invest­ments in existing properties. In this context Competo supports a small and select number of insti­tu­tional investors, almost exclu­sively from founda­tions and family offices.

In project devel­op­ments, Competo Capital Partners partic­i­pates with equity and mezzanine loans in selected real estate project devel­op­ments by experi­enced devel­opers in Germany in the office, residential, logistics and retail segments. On average, the investment portfolio consists of 15 equity invest­ments with an investment volume of around 900 million euros and 10 mezzanine invest­ments with an investment volume of about one billion euros. This amounts to a combined investment volume of around 1.9 billion euros.

In the segment of existing properties, Competo acts as an investment and asset manager and currently manages a portfolio of 12 office properties with an investment volume of around 800 million euros in Munich, Hamburg, Düsseldorf, Stuttgart and Ulm.

Competo hence manages a total investment volume of 2.7 billion euros in the real estate sector.

About QUEST Investment Partners

QUEST Investment Partners is a real estate project devel­opment and investment company with offices in Hamburg and Berlin. QUEST focuses on invest­ments in commercial and residential properties with upside potential in top locations of major German cities. In retail devel­op­ments the focus is on good inner-city locations in German metro­politan regions. The QUEST team has extensive experience in the devel­opment of high-quality real estate projects and contin­u­ously aims at increasing the real estate values of its share­holders and investors. QUEST’s share­holders are the managing directors Theja Geyer and Jan Rouven Künzel as well as the investment holding company of the Hamburg entre­preneur Erck Rickmers who is invested in real estate, equity invest­ments and shipping.

About Peakside

Peakside Capital Advisors AG is an owner-operated investment manager specialised in European real estate invest­ments. The company manages real estate assets of over one billion euros for insti­tu­tional investors. Depending on the investors’ require­ments, Peakside pursues differ­en­tiated investment strategies in commercial and residential real estate, ranging from core to value-add/op­por­tunistic strategies. The investment spectrum includes invest­ments in individual properties, portfolios, project devel­op­ments and entire real estate companies. Peakside employs more than 30 staff at its offices in Frankfurt, Warsaw, Prague, Zug and Luxem­bourg.

https://www.peakside.com

Competo Capital Partners GmbH
Susanne Himmel
+49 (0)89 5432866-21
Himmel@competo-cp.de

Peakside Capital Advisors AG
Jürgen Herres
+49 (0) 69 2648677 240
jh@feldhoff-cie.de

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