German manager Warburg-HIH Invest Real Estate has invested an undisclosed sum to buy a six-storey office scheme from vendor ECE.
Warburg-HIH said it has acquired Campus Hamburg in the district of Barmbek-Nord currently under construction at Fuhlsbüttler Strasse 431. Completion is scheduled for spring 2022.
The multi-tenant property will be anchored by two banks belonging to the French Société Générale Group.
Hans-Joachim Lehmann, MD of Warburg-HIH Invest, said: “By achieving a high level of pre-lets to strong tenant covenants, we managed to secure a stable and long-term cash flow even in the early phase of the property development.
“In addition, the building with its modern energy concept qualifies as a sustainable investment.”
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