Deutsche Hypothekenbank and DG HYP are financing a development in Frankfurt’s inner city for Elleke Group for €150m.
Each of the two is financing 50% of the facility.
Elleke Group is planning to develop a 33,500 m2 mixed-use property at Frankfurt’s Opernplatz opposite the old opera building. The complex will be divided into two parts. Accor Group’s Sofitel hotel operator will occupy about half of the first building. The group will run a five-star hotel will comprising 150 rooms and a 3,000 m3 spa and wellness facility. About 8,000 m2 of the property will be used as office space and 2,700 as for retail.
The 5,000 m2 second building will provide residential space.
Completion is expected for summer 2015.
“Frankfurt is gaining a new prime property in the heart of the city. A better location for a five-star hotel and exquisite flats and shops is almost impossible to find,” said Andreas Pohl, board member of Deutsche Hypo.
