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Brexit to Spur Frankfurt Real Estate Gains, CA Immo CEO Says

  • Banks with London hubs seen shifting staff to mainland Europe
  • Frankfurt among beneficiaries, Ernst & Young survey shows

A U.K. exit from the European Union will boost commercial real-estate prices in Frankfurt, accelerating a trend that has already pushed building values to record highs, according to CA Immobilien Anlagen AG.

“We’ve been in a clear upward spiral, and even without Brexit there’s a lack of supply on the investment side,” Frank Nickel, chief executive officer of Vienna-based CA Immo, said in an interview. The company is one of Frankfurt’s biggest developers, with properties including Tower 185 and the Skyline Plaza mall.