Tall & Urban News

On Tuesday, 25 June, the current owner of the iconic Trianon skyscraper in Frankfurt has declared insolvency amid Germany's recent property downturn. The 186-meter, 45-floor building that is a key feature of Frankfurt's skyline and houses major tenants like Germany's central bank and asset manager Deka is expereincing the aftermath of the Covid pandemic.

The insolvency petition was filed on Monday, 24 June with the law firm appointed as the insolvency manager. This crisis follows a period of economic turbulence in Germany, where high inflation led to increased borrowing costs and has significantly stalled the region's real estate market. The proerpty was facing reduced occupancy, a trend exacerbated by the rise of remote work, and reports stated that the building's website indicated office space would be available starting in summer 2024. Major tenant, Deka, is set to relocate to a new building in August 2024, though both it and other major tenant Bundesbank, which has occupied space for 1,000 employees since 2015, assert the insolvency will not affect them. 

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