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West End Frankfurt: Starting signal for complete refurbishment of a 2.500 sqm office building in the Niedenau

NAI apollo acted as consultant

West End Frankfurt: Starting signal for complete refurbishment of a 2.500 sqm office building in the Niedenau
- NAI apollo acted as consultant during property purchase and entire letting of the project "Westpol" before completion

Prepared and Issued by NAI apollo www.naiapollo.de / Published to the Site www.naibaltics.com by NAI Baltics – commercial real estate services in the Latvia, Lithuania, Estonia. Your trustworthy partner, advisor and consultant in the Baltics and Worldwide. http://www.naibaltics.com

Project Westpol: A new modern office building is developing in the Niedenau

Frankfurt, 13.01.2009 – The existing building of the former head office of the association of home, land and appartment owners as well as the Bank of New York in the Niedenau 61-63 in the west end of Frankfurt will be gutted completely and reconstructed into a modern high quality office building. For this the owner, a project company from Luxembourg, has now given the starting signal. The Pegasus Development GmbH from Frankfurt was assigned with entire coordination until the completion. After the planning of the Frankfurt architect's office BeyeScheid the building will be handed to the tenant ready-to-use in summer 2009 with a rentable area of approx. 2.500 sqm and a considerable amount of parking spaces. The company Jökel Bau GmbH & Co. KG from Schlüchtern was engaged as general contractor. NAI apollo - independent real estate consulting group and partner of the worldwide biggest network NAI Global for the entire German market - acted as consultant during the purchase of the property and was able to rent the entire eight-storey building to a tax consulting and auditing firm in Frankfurt before the start of construction. NAI apollo was also assigned with the sale of the project.

About NAI apollo / NAI Global
NAI apollo is an independent real estate consulting group with its headquarters in Frankfurt a. M., Germany and is the partner of the world's largest network for owner-operated real estate companies, NAI Global, for Germany. Fortune 1000 companies and institutions are among the many NAI Global customers, who are jointly cared for by all of the partner offices. Corporate personalities, experts and their respective teams offer renters and investors - both individual and institutional - substantiates expertise in the areas of consulting and intermediation, investments, valuation, research as well as asset management, property management and building construction management. The market segments of industrial, commercial, office space, residential, retail and specialized real estate all belong to NAI apollo's knowledge portfolio. Individual consulting and both market and location analyses for regional, national and international customers are tailor-made.

Headquartered in Princeton, New Jersey, NAI Global manages a network of 5,000 commercial real estate professionals and 325 offices in over 55 countries, and completes over $45 billion in annual transaction volume. Under all owner-operated networks worldwide NAI Global takes first place (status 8/08) and ranks in fourth place in the current Lipsey's Top 25 Real Estate Brands. Since 1978, NAI Global clients have built their businesses on the power of NAI’s expanding network. NAI Global’s extensive services include corporate real estate services, brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain consulting and related advisory services.

Media Contact:
Silke Hoffmann
NAI apollo Pressebüro: SH/Communication
Tel. +49 2159 69 49 80
Fax +49 2159 69 49 89

Corporate Contact NAI apollo:
Axel König MRICS, CEO
Grüneburgweg 2
60322 Frankfurt am Main
Tel. +49 69  970 50-50
Fax +49 69  970 50-55

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Commercial Real Estate

"Avers Centrs Ltd with NAI Baltics as broker and investment acquisition consultant recently carried out a sale - leaseback transaction of its newly-built logistics warehouse complex in Riga, Latvia. We are very pleased with the transaction and NAI Baltics role in managing the transaction process, in particular considering current fluctuating market circumstances. NAI Baltics management of the process, from start to finish, was excellent, starting from the offering memorandum, to their management of the property tours, buyer selection process, due diligence and close. The entire team was extremely professional and knowledgeable. All during the complicated and lengthy transaction, their attentiveness, attention to details, clear and timely communication, the negotiating and mediation skills, and problem-solving abilities were notably worthwhile in completing a transaction. We are looking forward to working with NAI Baltics team again, and highly recommend them in the event you are considering utilizing their services."
Mihails Litevskis ( Михаил Литевский )
Member of the Board
Avers Centrs Ltd.

Commercial Real Estate

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