Caleus Capital Partners is buying a fully-let office and retail building in Germany from Savills Investment Management for an undisclosed sum.
Savills IM said it has concluded the agreement on behalf of the Savills IM European Office Fund for the Domkontor D10 office and retail building in Hamburg’s Old Town.
Savills IM said Caleus Capital has bought the eight-story asset at a purchase price significantly higher than the original acquisition price.
The 6,900sqm mixed-use Domkontor D10 in Hamburg was refurbished in 2014.
Patrick Reich, managing partner of Caleus Capital Partners, said: “The acquisition of Domkontor in the heart of Hamburg marks the start of our strong commitment to the city in the future.”
Roland Maria Döhn, managing director at Savills IM, said: “We are pleased to have been able to sell Domkontor D10 profitably on behalf of our investors. We took advantage of the positive market environment, which is characterised by strong demand for high-quality office properties in prime locations.
“Thanks to the complete refurbishment in 2014, the fully leased core property has an attractive new building standard with modern and flexible space, while also preserving the historic Hanseatic character through the two listed facades.”
To read the digital edition of the latest IPE Real Assets magazine click here.
No comments yet