# Maintal, Frankfurt-Hanau: a business park sold to a data center developer for €40.1 million

> Listed landlord Sirius Real Estate acquired the Maintal technology park, between Frankfurt and Hanau, in 2006; DCD reports the purchase at about **€17 million**. After its anchor tenant left, Sirius pursued a change of use and in November 2023 notarised the sale of the 37,830 m² site to a data center developer for **€40.1 million**, about 6% above its last book value.

Third-party precedent · Germany · Completed sale · Pathway: Land and power assembled, then sold to an operator · Last checked 2026-10-13 · https://ampervia.com/case-studies/maintal-frankfurt/

## Timeline

| When | What happened |
|---|---|
| Oct 2006 | Sirius acquires the Maintal technology park (DCD reports about €17m). |
| Later | Long-term anchor tenant leaves; change of use pursued. |
| Nov 2023 | Sale to an unnamed data center developer notarised at €40.1m, 5.7% net initial yield, ~6% above book value. |

## What changed between entry and exit

- Recognised that the park sat in the Frankfurt–Hanau data center belt.
- Pursued a change of use after the tenant left instead of re-letting as offices.
- Sold to the buyer that valued the location most.

## Capital and counterparties

Sirius held the asset for 17 years; the developer funds the data center.

## Economics

| Item | Figure | Note |
|---|---|---|
| Entry price (2006) | ≈€17 million | As reported by DCD; single source |
| Exit price (2023) | €40.1 million | Notarised sale |
| Versus last book value | ≈+6% | Sirius statement |
| Versus 2006 price | ≈2.4× | Before 17 years of capex and costs; not a net return |

## Risks and limitations

- The 2006 price comes from one press source; holding costs and capex are not public.
- Most of the uplift over book value had already been booked over time.

## Relevance to Ampervia

Location in an established cluster (Frankfurt–Hanau) can turn an ordinary business park into data center land. The buyer paid for the location and the route to power.

## Sources

- [Europe Real Estate — Sirius sells Maintal industrial park for €40.1m (Nov 2023)](https://europe-re.com/sirius-real-estate-sells-industrial-park-in-maintal-for-40-1m-de/72322)
- [DCD — Sirius sells Frankfurt business park to data center developer](https://www.datacenterdynamics.com/en/news/sirius-sells-frankfurt-business-park-to-data-center-developer/)
- [Immobilien Zeitung — Sirius acquires Maintal Technology Park (Oct 2006)](https://www.iz.de/translatednews/news/-sirius-acquires-maintal-technology-park-555932)
- [Börsen-Zeitung — data center land prices far above logistics (Colliers data, Feb 2026)](https://www.boersen-zeitung.de/banken-finanzen/rechenzentren-heben-grundstueckspreise-weit-ueber-logistik-und-industrieniveau)