160 Park View, Frankfurt, Germany

Flag-Germany

Investment Date
Q1 2016

Exit Date
Q2 2021
(Projected)

Asset type
Luxury residential and hotel

Revcap strategy
Pre-let development

Revcap Fund
KHCP III

Investment Type
Joint Venture Equity

Background and Opportunity

  • Purchase of 33,200m² vacant office property in the prime residential neighbourhood of Frankfurt that was owned by an institution in wind down mode
  • Revcap used the extended time secured between securing the asset and completion to obtain a zoning change of use from office to residential and hotel
  • Business plan is to convert the larger tower to luxury residential and the smaller tower to a 5 star hotel

Transaction Progress

  • Revcap has teamed up with RFR and Hines to co-develop the project

Current Status

  • Currently on site developing 129 luxury apartments and a branded 5 star hotel
  • Substantial residential pre-sales at levels materially above underwriting have been achieved
  • Lease signed on hotel component with boutique German hotel operator

Back to Joint Venture Equity

SIMILAR INVESTMENTS

  • Fortress Multi Service Centres, Germany
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  • Storgata, Oslo, Norway
  • L’Hippodrome, Toulouse, France