Hamburg, 08.12.2022 – HanseMerkur Grundvermögen AG (HMG) has acquired a mixed-use property in the immediate vicinity of Frankfurt Airport for one of its open-ended special funds.
The seven-storey office block and eight-storey apartment building together encompass floor area totalling 11,600 m2. Construction of the buildings began this summer, they are scheduled for completion by the end of 2024. The complex also boasts two basement levels with 116 parking spaces. The vendor is project developer GBI, who launched the project in a joint venture together with Fraport Casa Commercial GmbH.
A "Global Business Village" - which will create up to 25,000 jobs - is being constructed on the former American airbase. As part of Frankfurt Airport City, the up-and-coming "Gateway Gardens" micro-location naturally enjoys outstanding transport links by air, rail and road.
Thanks to its position right by Germany's most important airport, travellers can reach Terminal 2 on foot in just 10 minutes. The new district has its own motorway exit right on the Frankfurter Kreuz junction, as well as its own suburban railway station. Commuters can travel by public transport from "Gateway Gardens" to both – Frankfurt Central Station and the airport – in a matter of minutes. The district’s tenants will find the perfect combination of national and international transport links in the economically powerful Rhine-Main region.
The 142 fully furnished and equipped serviced apartments from the GBI Group's well-established "SMARTments business" brand are perfect for business travellers, consultants, freelancers and newcomers who enjoy the benefits of the flexible accommodation.
The new Frankfurt Business Apartments are managed by the GBI Group, which has developed and operates in excess of 1,000 fully equipped apartments in all.
"Appealing to investors is the long-term cash flow secured by the 20-year rental agreement for the serviced apartments, which are run by a highly experienced operator," explains Malte Andes, Deputy Chair of the HanseMerkur Grundvermögen AG Management Board.
Modern office space is being created in the office building next door, which can be flexibly divided according to tenant requirements and offers a view of the surrounding countryside despite its location in the immediate vicinity of the airport.
Sustainability is key to this project development. The strict sustainability concept will make this one of the first districts to receive platinum DGNB certification in Germany, something that is also of particular importance to institutional investors.
As Simon Behr, authorised signatory of the GBI Group and Managing Director of GBI Capital GmbH explains: "A sustainable combination of different property uses is becoming a central design element for an increasing number of project developments. This approach makes neighbourhoods more lively, more liveable and often more economical."