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neo FRA was a Grade A single-let office asset in Eschborn, Frankfurt. The building was pre-leased on a 10-year term to SAP (the market leader in enterprise software applications) which provided an extremely secure cash-flow profile to our investors. Additionally, during our hold period, the Eschborn submarket proved its resilience and saw occupancies rise vis-à-vis significant rental growth momentum. neo capital exited the investment in 2020, selling the asset to a long-term institutional owner which enabled us to realize strong returns for our investors that outperformed the asset’s initial underwriting.

Property highlights

  • Purchased from an award winning real estate developer with a strong track
    record of commercial property developments in Germany
  • Leased to a credit quality tenant SAP the well known market leader in enterprise
    application software
  • Investment and exit achieved returns which outperformed original underwriting