Austria’s Signa Holding has acquired the headquarters of lender Hamburg Commercial Bank (HCOB) in central Hamburg as well as the neighbouring Perle shopping centre for an undisclosed amount.
Under the deal, HCOB is leasing back the 30,000 m2 eight-storey office building for a transition period of four years and will then relocate to the 245-metre-high Elbtower which will be developed by Signa in the HafenCity distict.
Freshfields advised HCOB on the sale.
HCOB, headquartered in Hamburg, is the first privatised Landesbank in Germany.
