Frankfurt’s iconic Pollux office tower was acquired as an off-market transaction in the third quarter of 2014 through a joint venture with The Blackstone Group. The 130-meter-tall complex offers more than 32,000 sq.m. of prime rental space spread over 33 floors.

At the time of purchase, the occupancy rate was just 15%, and the tower was thus suffering from a tarnished image on the Frankfurt real estate market. Through a targeted action plan consisting of repositioning, marketing and market penetration, the new management management team was able to rise the occupancy rate from 15% to 95% within 36 months.

During this pivotal period, new lease agreements were signed with prominent tenants including Zurich Insurance Group, Lavazza, AON and TechQuartier, an innovation project sponsored by the state of Hessen. In addition, the building was sustainably upgraded through selective capital investments.