Allianz has taken an 80pc shareholding in the Skyline Plaza – a new shopping mall due to open in Frankfurt/Main in autumn 2013. It's been sold by CA Immo Deutschland GmbH and ECE, although they have each retained a 10pc stake in the property. The total investment volume is around €360 million.
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"Allianz's investment horizon in the Square is another highlight of our investment activity in Germany," said Stefan Brendgen, CEO of Allianz Real Estate Germany. "Thanks to the presence of ECE and CA Immo, we will have two strong partners at our side during construction and subsequent operation. This acquisition gives us a big step closer to our goal of increasing the share of sales of our portfolio. "
Bernhard H. Hansen, CEO of CA Immo Deutschland and CTO of CA Immobilien Anlagen AG: "Skyline Plaza is another flagship project in Europaviertel next to the Tower 185. I am especially pleased that this project will also be held to strict sustainability criteria – which is vital for success among tenants and investors-ers as Allianz. "
Skyline Plaza is being built in Europaviertel – a district of the emerging new Innercity mark near the main train station, the fairground Messe Frankfurt and the financial district. CA Immo is the dynamic development of this area into a vibrant urban environment with a lot of real estate for offices, hotels, shops and apartments.
After its completion in the fall of 2013, Skyline Plaza will contain approximately 38,000 square meters of retail space on two floors with a capacity of 180 retail units. The center will also feature a spa meridian with an area of 9,200 square meters. Moreover, the planning includes a rooftop garden of 10,000 square meters, with a view of the skyline of Frankfurt and offer a mixture of ca-FES, dining and relaxation areas. They benefit from the transport network, the square of the horizon has a multi-storey car park, as well as around 2,400 vehicles – and drivers can easily reach the city center and freeways.
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