Pursuits
Seagram Owner Sells Frankfurt ECB Tower to IVG for $510 Million
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RFR Holding LLC, the investment firm that owns New York’s Seagram Building, is selling a Frankfurt skyscraper rented to the European Central Bank for 480 million euros ($510 million).
The Eurotower is being bought by IVG Immobilien AG’s institutional funds unit on behalf of a German pension fund, IVG said in a statement on Thursday. The ECB will house its banking regulators in the entire 60,000 square meters (646,000 square feet) of the 40-story building, according to the statement.