By Razvan Toma · Founder & CEO, Ampervia · Last checked 2026-10-13 · Sources linked below
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. Sources (4)Europe Real EstateEurope Real Estate — Sirius sells Maintal industrial park for €40.1m (Nov 2023)↗
DCDDCD — Sirius sells Frankfurt business park to data center developer↗Immobilien ZeitungImmobilien Zeitung — Sirius acquires Maintal Technology Park (Oct 2006)↗Börsen-ZeitungBörsen-Zeitung — data center land prices far above logistics (Colliers data, Feb 2026)↗
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: confirmed and not disclosed
| 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)
- DCD — Sirius sells Frankfurt business park to data center developer
- Immobilien Zeitung — Sirius acquires Maintal Technology Park (Oct 2006)
- Börsen-Zeitung — data center land prices far above logistics (Colliers data, Feb 2026)
Last checked 2026-10-13. Third-party precedent, not an Ampervia project.