In one of the largest real estate transactions of the year in Frankfurt, a real estate fund managed by Amundi Real Estate has acquired the office portion of the Frankfurt project "Grand Central" with office space of 52,000 square meters. International law firm Clifford Chance advised Amundi Real Estate on this transaction.

The office space has been rented by Deutsche Bahn AG for its subsidiary  DB Netz, who will have a total of 2,200 employees from current office locations across the city gathered at the new office site, which is located close to Frankfurt central station. Apart from the office buildings, "Grand Central" will also feature a hotel, further offices and several residential buildings among others. Completion is scheduled for the second half of 2020.

The acquirer Amundi is a European asset management enterprise and has been represented in the transaction by L'Etoile Properties. The vendor is a joint venture of real estate developers Groß & Partner and Phoenix. Both take over the project development and realization. The parties agreed to not disclose the transaction value.

Clifford Chance has already advised Amundi on several high-profile real estate transactions. The team comprised Gerold Jaeger, Dominik Janson, Anja Roth (Real Estate) as well as Uwe Schimmelschmidt, Cord of Mandelsloh, Dominik Thomer, Philipp Weiten (Tax) and Christian Vogel, Maria Luisa Köhler and Torben Lührmann (Corporate).