At the beginning of 2015, the Main Airport Center (MAC) office complex by Frankfurt Airport was acquired together with U.S. client investment capital. The property offers approx. 61,000 sq.m. of rentable space, including a conference area, staff restaurant and lobby café, as well as a multi-storey car park with some 1,500 parking spaces and even a petrol station.

At the time of purchase, the building was leased by prime tenants but with a weighted average remaining lease term (WALT) of less than two years. Within 24 months, the WALT was extended to almost 6 years and the occupancy rate raised from 70% to 95%.

In addition, owner-borne operating costs were significantly reduced and the quality of tenant services improved through the development of a new concept for food offerings.

Over a very short time following purchase, lease extensions and new lease agreements were signed for a total of approx. 30,500 sq.m. At the end of 2017, the MAC complex was sold to Singapore-based CapitaLand, one of Asia’s largest investors. Starling Real Estate continues to provide asset management for the new owner.