Allianz acquires 80pc in Skyline Plaza in Frankfurt

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.

Skyline Plaza ECE Projektmanagement G.m.b.H. Co. KG

"Allianz's investment in the Skyline Plaza is another highlight of our investment activity in Germany," declared Stefan Brendgen, CEO of Allianz Real Estate Germany. "Thanks to the presence of ECE and CA Immo, we will have two outstanding partners at our side during both construction and subsequent operation. This acquisition takes us a major step closer to our goal of increasing the retail share in 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 alongside Tower 185. I'm especially pleased that this project, too, will be carried out to strict sustainability criteria – which is vital in order to succeed among both tenants and inves-tors like 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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