NEW YORK, May 9, 2017 /PRNewswire/ --
- Deutsche Bundesbank will occupy an additional 7,000 sqm across five floors
- Second largest leasing transaction in Frankfurt this year
NorthStar Realty Europe ("NRE") has signed a new 10 year lease for 7,000 square meters of office space in the Trianon tower to Deutsche Bundesbank, the German Federal Bank, in one of the largest leasing transactions in the Frankfurt market this year. Deutsche Bundesbank also extended the lease on its existing space by a further two years signalling its long term commitment to the building. As a result, it will occupy a total of 21,500 square meters across 16 floors through 2027.
The Deutsche Bundesbank commitment comes on the back of a significant capital investment towards building upgrades since NRE acquired the building in 2015 as well as a rebranding programme focused on highlighting the building's credentials as a dominant landmark in the Frankfurt CBD.
The Trianon Tower, with its distinctive triangular shape, is one of the most iconic office towers in Germany and is centrally located at Mainzer Landstrasse 16. It is the sixth tallest office building in Germany at 186 metres with a total rentable area of 66,000 sq m over 47 floors. The Trianon Tower has been LEED Gold Certified since 2012.
In addition to Deutsche Bundesbank, other high profile tenants include the Deka Group and investment manager Franklin Templeton, which renewed its 4,200 sqm lease by 10 years in December 2015.
Mahbod Nia, CEO of NRE said: "We have committed significant resources towards upgrading and repositioning this landmark property since acquisition. The Trianon Tower is one of the best office buildings in Frankfurt and we are delighted that Deutsche Bundesbank has decided to expand its presence and extend its commitment to our building."
Separately, NRE recently signed a new long term lease for 2,700 sqm in another Frankfurt asset in Uhlandstrasse, increasing occupancy of the building from 87% to 100%.
About the Trianon Tower
The property was constructed in 1993 and was designed by AS & P Albert Speer & Partner, Novotny Maehner Associates, HPP Hentrich-Pteschnigg & Partner. For further information please see: www.trianon-frankfurt.de.
About NorthStar Realty Europe
NorthStar Realty Europe Corp. (NYSE: NRE) is a European-focused commercial real estate company with predominantly high quality office properties in Germany, the United Kingdom and France, organized as a REIT and managed by an affiliate of Colony NorthStar, Inc. (NYSE: CLNS), a leading global real estate and investment management firm. For more information about NorthStar Realty Europe Corp., please visit www.nrecorp.com.
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SOURCE NorthStar Realty Europe Corp.