The roof of the building with glass barriers
  • Frankfurt am Main
  • Germany
  • Office
  • March 2022
  • ESG

Morrow, Frankfurt

A recently refurbished office building in Frankfurt’s Westend.

Glazed building

Glazed building

About the building

Morrow is a recently refurbished, high-quality office building that benefits from a privileged downtown location and convenient connections to public transport and is close to Frankfurt’s central business district. The building has several roof terraces with unobstructed views of Rothschild Park and the Frankfurt skyline.

Investment rationale

The Morrow building is a first-class core office property located in the financial center of Germany and thus one of the most important investment markets in Europe. LaSalle E-REGI was drawn to the property because the attractive sub-market has a high demand from well-known tenants, which is expected to lead to long term, stable cash flows for the fund.

Improvement works

LaSalle E-REGI acquired Morrow in December 2020. At the time, the asset, which was built in 1976, was being re-developed across its 11 floors. LaSalle enhanced the re-development plans as the plans in place at the time fell short of the fund’s high standards for environmental performance.

Changes to the Morrow building included:

  • Installing automated LED systems that consume less energy when on and turn off when not in use
  • Replacing the existing windows with high-quality, triple-glazed and insulated aluminum units for maximum efficiency
  • Installing energy-efficient, individual room heating and cooling systems
  • Improved ventilation systems with heat recovery
  • Installing charging stations for electric cars and bicycles
  • Ensuring full-coverage wifi and mobile telephone reception, from the underground car park to all office floors.

LaSalle believes that any additional costs incurred as a result of these improvements will add positive value going forward for the fund’s investors, the building’s tenants and the environment in general. As of August 2022, the building is fully let.

Recognition

The Morrow building has achieved the highest possible standard set by the German Sustainable Building Council: DGNB Platinum. The building has also achieved a platinum rating from WiredScore, meaning that Morrow meets exceptional standards for the quality of its wired infrastructure, resilience and wireless network.

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Important information

The assets presented are meant for illustrative purposes only, are subject to change without notice and are not meant as a projection or estimate of the nature of any future investments to be made by the Fund or returns on any such investments. This information has been prepared by LaSalle in order to illustrate the type of assets held and/or transactions completed by the Fund; transactions for properties exhibiting the same or similar characteristics may not be available or profitable in the future.