Austria’s CA Immo delivers EUR 450m Frankfurt tower

Austrian listed property firm CA Immo has delivered its landmark office tower in Frankfurt’s Europaviertel district. In a statement this week, the Vienna-based group said Tower 185 was completed ‘on time and within budget’, representing an investment of some EUR 450 mln.

The 200-metre high scheme is majority let to audit and consulting company PricewaterhouseCoopers, which uses the building as its headquarters in Frankfurt and occupies 68,000 m2. International law firm Mayer Brown is another anchor tenant, bringing the asset ‘s occupancy rate to 73%, a company spokesperson said.

‘Tower 185 is the biggest single project that CA Immo has implemented to date,’ said Bernhard H. Hansen of CA Immo. ‘Our subsidiary omniCon, which was responsible for construction management and oversaw the overall project on a contract by contract basis, played a major part in this achievement.’

CA Immo started construction of the project in the middle of the financial crisis and in early 2009 secured a EUR 254 mln loan to finance its development. ‘This was a remarkable vote of confidence in the ability of CA Immo to deliver as well as in the development project itself,’ added Bruno Ettenauer, Chief Executive Officer of CA Immo.

The complex, offering a total of 100,000 m2 of space, obtained DGNB pre-certification and is targeting a LEED Gold rating.

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