The Swiss real estate investment boutique BlueRock Group has acquired two of the three seven-storey office buildings of the WÖHR + BAUER project "Mergenthaler Connects" at Mergenthalerallee 42 and Frankfurter Straße 27 in Eschborn near Frankfurt am Main.

The "Mergenthaler Connects" office complex, which was built in 1989, comprises a total of around 23,000 sqm with its three office buildings and was acquired by WÖHR + BAUER in 2018 with almost no vacancies. The two properties sold, with a rental area of around 15,000 sqm, were extensively revitalised and now have an occupancy rate of around 90 per cent. Enterprise Holding is the anchor tenant. BlueRock Group plans to invest a further 1.5 million euros in the buildings.

"We are pleased to have found a buyer in the BlueRock Group who appreciates the stability of the two properties as well as their potential and who will continue the partnership relationship with our tenants," says Dr. Tim Malonn, authorised signatory of WÖHR + BAUER.

"We are pleased to expand our portfolio in Germany with this investment. The location in the Frankfurt/Rhine-Main metropolitan region makes the office properties particularly attractive for companies. Frankfurt is one of the world's most important financial centres, which also has a major impact on regions such as Eschborn and the immediate vicinity of the properties. Accordingly, it was important for us to invest in modern properties that can also keep up with this development and whose potential we would like to further expand," says Ronny Pifko, Managing Partner and co-founder of the BlueRock Group.

The third property in the office complex at Mergenthalerallee 38-40, which remains in the WÖHR + BAUER portfolio and is located directly opposite the Deutsche Börse AG headquarters that characterise the location, will be comprehensively refurbished and marketed under the name "Mergenthaler" with particular attention to the criteria of sustainability and energy efficiency and will receive a new, attractive façade. Completion is expected before the end of 2022.

With its location in Eschborn, the office complex is excellently connected to Frankfurt and Frankfurt Airport, and an additional S-Bahn connection will further improve the connection from 2023. The quality of stay around the project will be enhanced by new real estate projects in the direct vicinity with green spaces, water areas as well as gastronomy, retail and services.

The auditing firm PWC and Ecovis Germany acted as tax advisors for the transaction and structuring. HEUSSEN Rechtsanwaltsgesellschaft mbH and Gelbart Legal provided legal advice to the seller and buyer. Völkel Company Real Estate Management GmbH will be responsible for the technical building management for the BlueRock Group, MB Advisors acted in an advisory capacity. CBRE GmbH acted as advisor on the seller side.

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