Mainova WebHouse signs option to join the
project as JV partner
FRANKFURT, Germany, May 13, 2024
/PRNewswire/ -- Tishman Speyer
("Tishman Speyer" or "the firm"),
one of the world's leading international developers, owners,
operators and asset managers of prime real estate, announces the
signing of a definitive agreement with SAMSON AG to acquire a 75,000 sqm prime location
in Frankfurt for the development
of a major new sustainable data center facility and urban
industrial and logistics hub. This will be Tishman Speyer's first industrial development in
Europe, building on the strength
of its portfolio in the United
States. The all-new mixed-use campus will be located close
to both the city's Central Business District and to one of
Frankfurt's largest data center
clusters.
Tishman Speyer has also signed an
agreement with Mainova WebHouse GmbH, a subsidiary of the energy
supplier Mainova AG and an experienced data center developer and
operator, focused on the Frankfurt
market, under which Mainova WebHouse has an option to become the
firm's joint venture partner in this important project.
The firm has previously identified data centers as one of the
most attractive sectors for the ongoing diversification of its
business portfolio and securing this rare opportunity in
Frankfurt, home to one of the
world's busiest internet exchange points (DE-CIX), is its first
major move into the sector. The proposed data center campus
comprises an initial c. 32 MW of IT-load, with an eventual full
build-out capacity of up to c. 70 MW of IT-load in this
fast-growing market where there continues to be high demand from
hyperscaler clients for new capacity, particularly for centrally
located sites.
This prime location – situated in the Frankfurt Osthafen area –
has been acquired from SAMSON, a leading global supplier of valves,
actuators and intelligent flow control systems, which is in the
process of moving its headquarters and operations to a new location
in Offenbach. The financial terms of the transaction have not been
disclosed. With this agreement, SAMSON has achieved its objective
of selling this large site to a party with a cohesive masterplan
for the entire site, working in close collaboration with the city
of Frankfurt. This follows
exclusive negotiations with Tishman
Speyer that have been under way since January 2023. Tishman
Speyer was considered an ideal acquirer given its deep local
knowledge – the firm has been present in Germany for over 35 years - and its
first-class track record delivering state-of-the-art large scale,
complex commercial development projects.
In addition to the core data center development, the project
masterplan also includes a light industrial element with multiple
buildings including a self-storage facility and craftsmen's yards.
Frankfurt and the wider Rhine-Main
region are currently experiencing a severe shortage of new light
industrial space with additional space in high demand notably from
logistics and retail sector clients. This site has the added
attraction of its proximity to Frankfurt city center also in respect of this
light industrial and last mile logistics sub-project.
Florian Reiff, Managing Director
of Tishman Speyer's business in
Germany said: "The successful
outcome of our discussions with SAMSON for the future of this
exceptional site opens the way for this major new development of a
highly sustainable data center and light industrial campus. I'd
like to thank our partners at Mainova WebHouse and SAMSON for
sharing our vision for this important project in a prime urban
setting in support of Frankfurt's
continued vibrancy."
Rob Speyer, CEO of Tishman Speyer said: "We're excited to partner
with Mainova WebHouse as we enter the data center space. This
project aims to bring new capacity online just as the computing
power requirements of AI need it most. This is a model transaction
for future investments we look to make in this growing sector."
Oliver Schiebel, CEO of Mainova
WebHouse said: "We are looking forward to this joint opportunity of
bringing sustainable data centers to a location where they are
needed most. Our most sustainable design which already exceeds all
the requirements of the latest renewable energy act will be taken
to the next level at this location, delivering significant waste
heat capacity to Mainova's district heating grid, for the people
and businesses in the east of Frankfurt to benefit from carbon neutral
district heat."
Dr. Dominic Deller, member of the
Executive Board and CFO of SAMSON, said: "The sale of this second
major part of our historic site in Frankfurt is another important milestone in
the transformation of our company. We are pleased that the site was
sold to a long-established Frankfurt company that will be working closely
with the city of Frankfurt to
retain jobs in Frankfurt's East
harbour district by investing in future technologies that are
essential for the digitalization of the German economy."
Tishman Speyer's investment in
this landmark data center campus project will be made by its
European TSEV IX value-add fund.
Tishman Speyer was advised by
Clifford Chance, Samson was advised
by bhp Bögner Hensel & Partner and Mainova WebHouse was advised
by Latham Watkins LLP.
About Tishman Speyer (tishmanspeyer.com)
Tishman Speyer is a leading owner,
developer, operator and investment manager of first-class real
estate in 35 key markets across the
United States, Europe,
Asia and Latin America. Our portfolio spans market rate
and affordable residential communities, premier office properties
and retail spaces, industrial facilities, and mixed-use campuses.
We create state-of-the-art life science centers through our
Breakthrough Properties joint venture, and foster innovation
through our strategic proptech investments. With global vision,
on-the-ground expertise and a personalized approach, we are
unparalleled in our ability to foster innovation, quickly adapt to
global and local trends and proactively anticipate our customers'
evolving needs. By focusing on health and wellness, enlightened
placemaking and customer-focused initiatives such as our tenant
amenities platform, ZO, and our flexible space and co-working
brand, Studio, we tend not just to our physical buildings, but to
the people who inhabit them on a daily basis. Since our inception
in 1978, Tishman Speyer has
acquired, developed, and operated 556 properties, totaling 225
million square feet, with a combined value of over $128 billion (U.S.). Our current portfolio
includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood
currently being realized in San
Francisco.
About Mainova WebHouse GmbH
Mainova WebHouse, which
was founded in 2020, specializes in the planning, construction and
operation of particularly sustainable data centers. A design
optimized for the Frankfurt market
and its climate allows for a particularly space- and
energy-efficient construction. Mainova WebHouse places a strong
emphasis on the extraction of waste heat to provide CO²-neutral
heating of the surrounding area and to make a measurable
contribution to the process of energy transition.
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SOURCE Tishman Speyer