Senior financing for the American Express headquarters in Frankfurt

Centurion Frankfurt

The property

PREOS AG purchased the Centurion multi-tenant office property located in Frankfurt’s City West submarket to add to its office property portfolio. The approx. 75 m high office tower was completed in 1993, fully refurbished in 2008 and comprises around 28,000 sqm lettable area over 16 floors above ground and around 300 car parking spaces over 4 basement levels. American Express has been the anchor tenant of the eponymous building since its completion. The property has been almost fully let since then.

Facts & figures

Property name Centurion
Address Theodor-Heuss-Allee 112 in 60486 Frankfurt am Main
Submarket City West
Asset class Office
Year of construction 1993
Lettable area 28,000 sqm
Activities Purchase financing: sourcing & execution
Mandate period Q1 2020

The challenge

We were instructed with the objective of obtaining multi-stage structured financing for the proposed purchase of the property.

In the context of the share deal acquisition structure, there was also a requirement to bring the financing to the drawdown stage within a very short timeframe. As the owner of the land and building are not the same due to an existing heritable building right, in the case of this particular financing special attention was paid to the bank’s own mortgage lending valuation of the property.

The tools

Business Plan

Financing memorandum

The result

Building Value: The positive results from Real Estate Finance for Centurion

Oceans and company case centurion titelbild
    • Successful conclusion of senior purchase financing
    • PREOS was able to secure senior purchase financing on attractive conditions at a fixed interest rate
    • Mezzanine financing was concluded with an internationally active institutional co-investor