Commerz Real fund sells office property in Wiesbaden
The Commerz Real closed-end real estate fund CFB 49 has sold its fund property, a piece of office real estate in Wiesbaden’s Mainz-Kastel district, to a special purpose vehicle belonging to the real estate company Immo Raising. Erected in 1994, the office building at Lorenz-Schott-Strasse 4 encompasses a rentable area of more than 8,500 square metres as well as an underground car park with 119 parking spaces and 68 off-site parking spaces. It was agreed that confidentiality be maintained on the purchase price.
The CFB fund 49 has a volume of approx. 20.5 million euros, thereof some 4.7 million euros in equity capital. It was issued in 1994 as a leasing fund and will now be liquidated following the sale of the fund property.