LaSalle core European property fund buys 28,000sqm Hamburg office

LaSalle Investment Management’s core pan-European property fund has added a 28,000sqm office property in Hamburg to its portfolio.

The Encore+ fund has bought the newly refurbished Economic Quarter office asset located in Hamburg’s City South for an undisclosed sum.

David Ironside, fund manager of Encore+, LaSalle Investment Management, said the acquisition of the Economic Quarter fits well within Encore+’s strategy to acquire asset high-quality properties in major cities in Western Europe.

“Hamburg is a new market for Encore+ and one of the top German office markets, providing further diversification within Germany.

”The high quality of the tenants provides secure income in this asset, in a location with excellent access and in addition the opportunity to capture rental uplift.”