Munich based FMS Wertmanagement AöR (FMS-WM) sold its plot “Neue Mainzer Str. 57” in Frankfurt, which is directly located vis-à-vis Main Tower, to Landesbank Hessen-Thüringen Girozentrale (Helaba). Our firm acted as counsel to the seller.

Munich based FMS Wertmanagement AöR (FMS-WM) sold its plot “Neue Mainzer Str. 57” in Frankfurt, which is directly located vis-à-vis Main Tower, to Landesbank Hessen-Thüringen Girozentrale (Helaba). The parties agreed confidentiality regarding the purchase price. FMS Wertmanagement was founded as the German Federal government’s winding-up institution for the nationalised Hypo Real Estate Holding AG (HRE Group) and had tak-en over the plot from HRE.

The plot, which is located in the heart of Frankfurt’s city centre immediately at „Wallanla-gen“, the medieval Frankfurt city wall, has been vacant for years. It is among the best loca-tions in Frankfurt and is one of the last remaining non-developed plots allowing the new development of a high-rise building in Frankfurt’s banking district.

The existing local land development plan allows a high-rise building at a maximum height of 195 meters (app. 640 ft.) with a floor space of 80,000 sqm (app. 860,000 sq ft.). An urban development contest which had taken place in 2001, was then won by the architects of KSP Engel who designed a double tower with glass fronts and a footprint forming an „H“.

Counsel to Seller: FMS Wertmanagement AöR

Kantenwein Zimmermann Spatscheck & Partner (Munich, lead): Marcus van Bevern, Dr. Stefan Hackel

Kapellmann und Partner (Frankfurt, Building Law): Prof. Dr. Stefan Pützenbacher (Public Building Law, Real Estate Law), Dr. Maximilian Jordan (Real Estate Law)

Inhouse: Dr. Johannes Starke, Dr. Rüdiger Hansel, Counsel to Buyer: Landesbank Hessen-Thüringen Girozentrale (Helaba)

Allen & Overy: Dr. Jochen Scheel (Real Estate Law, lead management), Dr. Olaf Otting (Public Law), Dr. Heike Weber (Tax Law)

Inhouse: Irene Kalisch