CCT acquires 94.9% stake in Frankfurt office for $387 mil

By PC Lee / The Edge Singapore | July 17, 2019 1:39 PM SGT
SINGAPORE (July 17): CapitaLand Commercial Trust (CCT) is acquiring a 94.9% stake in Main Airport Center (MAC) in Frankfurt, Germany, for €251.5 million ($387.1 million).
The acquisition marks CCT’s second asset acquisition in Frankfurt and increase CCT’s overseas exposure from 5% to 8% of its portfolio property value.
Located close to Frankfurt Airport and a 20-minute drive to Frankfurt’s Central Business District, MAC is a freehold multi-tenanted office building with a total net lettable area (NLA) of 60,200 sqm.
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