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In 2007, Spectrum Alliance, LP (SA) acquired an 18 percent stake in a partnership which owns a 179,951 sf office building located in Frankfurt, Germany. The partnership is managed by Hannover Leasing, a prestigious real estate / financial services firm headquartered in Munich, Germany.
The Westsite building was completed in 2003 and is presently 100% occupied with a high-quality tenant base. The combination of an institutional investment partner in Hannover Leasing and a solid base of credit tenants in the building make the Westsite property an appropriately conservative initial investment for SA in the European Union.
The property is located within one of the fastest growing office sub-markets in Frankfurt. It is on the main east-west transportation axis in Frankfurt, with connections to the regional and national transportation networks, as well as the Frankfurt International Airport. It is service by several types of public transportation.
The 4 story 179,951 sf building has an attached, two-level underground parking garage with 122 spaces. The building has a modern design, which incorporates an open atrium in its lobby. An attractive restaurant is located adjacent to the atrium, providing an up-scale service amenity for the building's tenants.
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