[ Frankfurt, GERMANY ]
According to press reports, Ping An Insurance, a Qatari fund, Tishman Speyer Properties LP, and several other investment groups have submitted bids for The Squaire, which at 1,506,900 SF is considered to be the largest office building in Germany. The building was developed between 2006 and 2011 atop an existing train station adjacent to Frankfurt Airport. The office building is directly connected to Frankfurt Airport’s Terminal 1, through a connecting pedestrian corridor.
The property is also home to two Hilton hotel products, a Hilton and a Hilton Garden Inn.
Germany’s IVG Group is the seller.
In July 2013, Ping An made its first real estate acquisition outside China when it bought the Lloyd’s of London tower for USD $407 million.