Global real estate investment manager LaSalle has bought a state-of-the-art office building in Frankfurt on behalf of the investment foundation Testina.
Barckhausstrasse 12-16, in Frankfurt’s Westend, will be the segregated mandate’s first investment in Germany.
The property, which has been recently extensively modernised, has a leasable space of 5,745 square metres and consists of a mixture of office, residential and storage space.
Testina is a Swiss investment foundation for international real estate investments and was founded in 2005 by two large Swiss pension funds.
The mandate is managed by LaSalle and targets continental European real estate. Its strategy is to invest in core office and retail properties in vibrant and growing cities in the main Eurozone countries on a long term buy and manage basis.
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