News


CA Immo sells centrally located hotel and high-rise building plot in Franfurt

• Sales proceeds approach € 27 million

• Apartment hotel and high-rise building planned


CA Immo is moving ahead with the development of the Frankfurt Europaviertel quarter, with the sale of a construction site between the newly constructed Skyline Plaza shopping centre and the Tower 185 multi-storey office block. The plot, some 4,600 m² (49,514 ft²), was sold to two investors, each of whom acquired a partial plot. Proceeds from both sales amount to approximately €27 million. The transactions were effected at above book value. 

An Adina apartment hotel some 1,400 m² (15,069 ft²) in size is scheduled to go up on the northern plot. Owned by the Australian Toga Group, Adina Hotels has signed a 15-year lease agreement. The "Adina Frankfurt Messe" will be the Toga Group's sixth property in Germany. The hotel, which will feature more than 180 studios and apartments in total over some 11,500 m² (approx. 123,785 ft²) of space, is scheduled to open in 2016. 

The southern plot with an area of around 3,200 m² (34,445 ft²) was acquired by another investor. The development plan allows to build a high-rise building up to 160 meters (almost 925 feet) tall with a gross floor area of approximately 44,000 m² (473,612 ft²) on this plot.