FRANKFURT, Germany—A unit of IVG Immobilien AG is reportedly poised to close on a $510-million deal to buy a 40-story skyscraper here that is leased to the European Central Bank.
Bloomberg reports that RFR Holding LLC, the investment firm that owns New York's Seagram Building, is selling its 646,000-square-foot Eurotower skyscraper for 480 million euros ($510 million).
The buyer is IVG Immobilien AG's institutional funds unit on behalf of a German pension fund. The ECB will house its banking regulators in the entire space of the 40-story building, according to an IVG statement referenced by Bloomberg.
New York-based RFR, which controlds more than $10 billion of real esate around the world, was founded by German-born investors Michael Fuchs and Aby Rosen.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
