Aurelis buys mixed-use building in Hamburg for German portfolio

German investor Aurelis has acquired a mixed-use property in Hamburg from an institutional investor.

Financial details of the transaction were not disclosed.

Bilfinger Real Estate handled the sale of the asset in Hamburg’s Allermöhe district, which comprises 2,440 m2 of office space and 6,410 m2 of warehouse space. The main tenant is logistics firm Kraftverkehr Nagel.

Ralf Klann, head of asset management Germany for Bilfinger Real Estate, said: 'Investor interest in German logistics property is high – we see that clearly in the strong demand for logistics assets that we sell on behalf of our clients, both to German and foreign investors.’

Torsten Wollenberg, regional representative for Aurelis, said the purchase was in line with its strategy of focusing on Hamburg and northern Germany. ‘Mixed-used properties, business parks and logistics and storage properties or light industrial units are especially in demand,’ he said.