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Romeo&Julia office sold

Photography comes from IFM Immobilien AG's materials
Photography comes from IFM Immobilien AG's materials
IFM Immobilien AG sold Romeo&Julia office in Frankfurt. The buyer is AFIAA Foundation for International Real Estate Investments.

"Romea&Julia" office was purchased by IFM Immobilien AG in 2006. Investor restored a building for almost EUR 66 million, creating by it one of the most exclusive structures in the Westend district in Frankfurt. Office has been given over to Swiss AFIAA Foundation for International Real Estate Investments.

Building was originally built in 1970-ties. Complex consists of two office towers with a different heights linked with a common three-tier base. "Romea&Julia" has been renovated according to the project of Swiss architect Max Dudler after purchasing by IFM. Many energy-saving solutions and those environmentally-friendly were employed i.a. systems limiting usage of energy and double sound-proof facade. Office received nomination for MIPIM award in "The Best Restored Building" category in 2010. The northern tower "Julia" has 19 tiers, however southern tower "Romeo" has 17 tiers.

Office offers totally 14 300sqm of modern office space and 149 parking spaces. It is leased in almost 90% at the moment by 11 companies, mainly by law companies, auditors, companies from the private equity sector and banks. An average length of a lease contract is 5 years, not counting a possible prolongation. A main leaseholder who occupies 31% of total space is WilmerHale. Owner wanted to diversify  structure of leaseholders.

AFIAA was established in 2004 and it belongs to 25 pension funds at the moment.

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