Hines’ Pan-European Core Fund Acquires Marienstrasse 15 in Frankfurt

(LONDON) – The London office of Hines, the international real estate firm, announced today that its Hines Pan-European Core Fund (HECF) has acquired Marienstrasse 15, its first asset in the Frankfurt office market.

The seller was DEGI (Deutsche Gesellschaft für Immobilienfonds mbh), and financials of the deal were not disclosed.

Located in the heart of Frankfurt’s CBD on Marienstrasse, the building accommodates part of the German headquarters of Allianz Global Investors (AGI), the wholly owned asset management arm of the Allianz Insurance group. Hines Immobilien GmbH, having assisted in the acquisition process, will be responsible for asset management.

Constructed in 1992, the building comprises 6,400 square metres (68,900 square feet) on six levels. “We are pleased to re-enter the Frankfurt market through the acquisition of a fundamentally sound asset with a solid tenancy,” said HECF’s fund manager Andreas Schreurs.

HECF is a Euro-denominated, Luxembourg-regulated Fonds de Commun de Placement (FCP), managed by Hines and created to acquire a geographically diverse portfolio of core commercial buildings across Europe.

In Germany, Hines has a total of 400,000 square metres (4.3 million square feet) of projects completed and in the pipeline. Current projects include landmark development and investments such as: dieMitte am Alexanderplatz in Berlin, Upper Eastside Berlin, and Postquartier located at Lautenschlagerstrasse 17 in Stuttgart. Hines entered the Frankfurt real estate market in 1996 as the development manager of the 55-story Main Tower, the fifth-tallest building in Europe.

Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The firm’s historical and current portfolio of projects that are underway, completed, acquired and managed for third parties includes more than 1,100 properties representing approximately 42.5 million square metres (457 million square feet) of office, residential, mixed-use, industrial, hotel, medical and sports facilities, as well as large, master-planned communities and land developments.

With offices in more than 100 cities in 16 countries, and controlled assets valued at approximately $25.6 billion, Hines is one of the largest real estate organizations in the world. Visit www.hines.com for more information.

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