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Tishman Speyer Plans 40-Story Frankfurt Tower With Commerz Real

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Jan. 21 (Bloomberg) -- Tishman Speyer Properties LP, the owner of New York’s Rockefeller Center and MetLife Building, said it will co-develop a 40-story office tower in Frankfurt.

The 650,000-square-foot (60,390 square-meter) building, a joint venture with Commerz Real AG, will be called TaunusTurm, Tishman Speyer said in a statement today. It will located on the Wallanlage, a park in the center of the financial district.

“This project reflects our strong confidence in the investment potential of the Frankfurt market and this outstanding location,” Jerry Speyer and Rob Speyer, Tishman Speyer’s co-chief executive officers, said in the statement.

Tishman Speyer holds 13 real estate investments in five German cities. The company last month sold Frankfurt’s OpernTurm office tower, completed in 2009, with 95 percent of its space leased, according to the statement. It also developed the city’s 60-story MesseTurm building.

To contact the reporter on this story: Rebecca McClay in New York at rmcclay@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at at kwetzel@bloomberg.net.

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