CBRE Global Investors has bought a mixed-use building in Hamburg from Allianz Real Estate Germany.
The asset manager said it acquired the Hanseviertel building on behalf of one of its funds for an undisclosed sum.
Hanseviertel has a combined gross lettable area of around 38,850sqm. The asset consists of a shopping arcade, several high street units, a 205-room Renaissance Hotel (Marriott Group), 14,400sqm office space, and 15 residential apartments.
The building is almost fully leased, with around 40% of total income derived from the retail part.
The property also includes 440 parking spaces. A further 160 private parking spaces are located in an additional underground garage and in the courtyard.