- Investor Cells Group and Kamco Invest Group acquired the office building ‘Lateral Towers’ from investment manager Simone.
- TA Europe advised the purchaser and carried out the technical due diligence of the ‘ground scraper’ property, comprising eight linked office sections.
Frankfurt, 31 January 2022 – TA Europe has advised the leading global investor Cells Group and their JV partner Kamco Invest Group from Kuwait, on the acquisition of the ‘Lateral Towers’ property, a high-profile office complex in Frankfurt/Main. The seller is the South Korean investment manager Simone for an international fund together with Commerz Real.
TA Europe advised the purchaser in the pre-acquisition process and carried out the full technical due diligence of the 46,000 sqm office building, divided into a total of eight sections, which are connected to each other by a continuous glass corridor section, plus a multi-storey car park building detached from the main building. The property is leased to Commerzbank on a long-term basis.
The towers are located in northwest Frankfurt, adjacent to Bockenheim and the town’s financial district. Built in 1999 and modernised in 2012-2015, the interior fittings of the office areas and the staff restaurant were renewed and upgraded, leading to a BREEAM certification with a ‘very good’ rating.
Lawrence Wainwright, Partner at TA Europe, says, “It was a pleasure to support our client Cells Group and their JV partner in the course of this property transaction in Frankfurt. The opening of our new TA Europe office in Frankfurt last year greatly aided a smooth technical due diligence process and prompt interaction with the client. We are looking forward to supporting many more high-profile property deals in and from Frankfurt, in Germany and beyond.”