(FRANKFURT, GERMANY) – RFR and Hines, the international real estate firm, have started the sales process for the residential and hotel project 160 Park View in Frankfurt’s Westend. Located at the Grüneburgweg, the two real estate companies are redeveloping the “Hochhaus am Park.” The former office towers will be converted into 129 condominiums and a hotel with approximately 140 rooms. The project is expected to be completed and open to the first residents and hotel guests by 2020.
The 96-meter-tall residential tower will consist of 19,000 square meters, offering two- to five-room apartments, ranging from 42 to 445 square meters. From the fifth floor upward, residents will enjoy breathtaking views.
“The location of the project in the Westend is truly one-of-a-kind and the skyline views are spectacular,” says Dr. Alexander Koblischek, spokesman for RFR.
The 75-meter-tall, 13,000-square-meter office tower will be converted into a five-star hotel. The services of the hotel will be also available to the residents, including a ground-floor restaurant. A special feature of the project is the newly designed façade by the architectural office KSP Jürgen Engel. The existing glass façade from the 1970s will be replaced by a bright façade for the residential tower and a dark façade for the hotel tower.
RFR and Hines are targeting 160 Park View to a diverse customer.
Daniel Reichwein, managing director of Hines, says, “Because of the superb quality of the location, many local buyers from the Rhine-Main region are expected. Nevertheless, due to the extensive range of services offered, we also expect an active interest of international investors. It is our special interest, to get as many owners as occupiers for our project as possible.”
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 24 countries. Hines has approximately $111 billion of assets under management, including $60 billion for which Hines provides fiduciary investment management services, and $51 billion for which Hines provides third-party property-level services. The firm has 108 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,295 properties, totaling over 422 million square feet. The firm’s current property and asset management portfolio includes 506 properties, representing over 210 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
About RFR Holding GmbH:
The RFR Holding GmbH belongs to the RFR Group, which is managed by the German real estate investors Aby Rosen und Michael Fuchs. In the last 25 years, the RFR put together a unique portfolio in the US. Architectural classics such as the famous Lever house from Skidmore, Owings & Merrill are complemented by modern office towers, commercial buildings as well as luxurious condominiums and trendy hotels in prime locations. The RFR Group manages a worldwide real estate portfolio with an approximate value of 12 billion US$.