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CapitaLand, Lum Chang buy Frankfurt office building for 234.3m euros in cash
The freehold, multi-tenanted building will be CapitaLand's first office building in Germany, and has an agreed value of 245 million euros
Add BT as a preferred sourcePublished Thu, Dec 28, 2017 · 09:50 PM
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Singapore
A JOINT venture between CapitaLand and Lum Chang Holdings has acquired an office building in Frankfurt for 234.3 million euros (S$375.1 million) in cash.
CapitaLand, a real estate developer, holds 94.9 per cent of the joint venture and paid 222.3 million euros of the consideration. Lum Chang, a construction company, holds the remaining 5.1 per cent.
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