Rabo Real Estate Group/KP Investments has sold the PalaisQuarter and neighbouring land in Frankfurt to Deutsche AWM and ECE for over €800m (£633.5m).
The 1.2m sq ft mixed-use deal is being touted as the largest commercial transaction in Germany in 2014, and one of the top five European transactions this year.
JLL acted for the vendor.
JLL’s head of retail, Jörg Ritter, said: “Our global-oriented marketing process has proven that there is an extraordinary level of interest from international investors for German trophy investments. Investors from as far wide as the US, Europe, the Middle East and Asia offered more than €4bn of equity for the asset.
“Our global roadshow was successful in creating an international awareness in Frankfurt and the property itself with investors from around 20 different countries coming to visit the asset.”
