Real estate group neo capital sells Frankfurt tower for $77mln – ZAWYA

Real estate group neo capital sells Frankfurt tower for $77mln – ZAWYA

Real estate group neo capital sells Frankfurt tower for $77mln | ZAWYA MENA Edition HomeWealthAlternative InvestmentsArticleReal estate group neo capital sells Frankfurt tower for $77mln With just under $1bln of assets under management, neo capital has achieved superior returns for its investors in the Frankfurt transaction    The skyline with its banking district is photographed during sunset in Frankfurt, Germany, May 20, 2020, as the spread of the coronavirus disease (COVID-19) continues. Global real estate investment and asset manager neo capital, which has offices in Dubai and London, has announced the sale of the SAP building at Eschborn in Frankfurt city to a German real estate fund for €68 million ($77 million).With just under $1 billion of assets under management, neo capital has achieved superior returns for its investors in the Frankfurt transaction, following a 22-month holding period.The global real estate investment manager acquired the prime office high-rise in Eschborn, whilst under development in August 2018.With a net lettable area of 8,905 sq m, the 11-storeyed, 43-m high-rise tower is leased to SAP, the well-known market leader in enterprise application software.The sale of the SAP building in Frankfurt builds on the company's strong track record of real estate investments in