Press release

Commerz Real sells office ensemble “Marienbader Höfe” in Bad Homburg to Patrizia

Commerz Real has sold the office property “Marienbader Höfe” in Bad Homburg v. d. Höhe to a special fund belonging to Patrizia Immobilien AG. The property has been owned by the Commerz Real closed-end real estate fund CFB 131 since 1999. Both parties agreed to maintain confidentiality on the purchase price.

Following a successful repositioning we have now utilised the high level of demand on the office investment market for an attractive sale.

Roland Holschuh, the Commerz Real board member responsible for real estate markets

The six-storey building at Marienbader Platz 1 has a total leasable area of more than 27,000 square metres as well as more than 500 car parking spaces in an underground car park. Following the departure of a single tenant at the end of 2015, Commerz Real modernised Marienbader Höfe, converting it into a multi-tenant property, with the effect that the building was fully leased at the end of 2016. The tenants include the medical technology and healthcare company Fresenius, the provider of e-commerce solutions for payment transactions First Data, the industry insurance broker DVA, and the asset finance and leasing provider Deutsche Leasing.

JLL an Hogan Lovells advised Commerz Real on the transaction.