AXA Investment Managers - Real Assets (AXA IMRA) has purchased a new office building in Hamburg from a joint venture between Procom and Quantum for an undisclosed sum.
The 13,511 m2 property, dubbed Zeisehof, comprises five above-ground and three below-ground levels, let to WPP on a long lease. It was designed by architects Störmer Murphy and Partners and opened in March 2017 with a DGNB Gold certification.
'Hamburg is an attractive office investment market, where we own on behalf of our clients a number of properties, with robust demand being driven by a lack of new development,' commented Laurent Jacquemin, European head of transactions at AXA IMRA. 'The Altona district in particular is demonstrating fundamentals for investments such as this, secured on a strong covenant and a long term lease. This acquisition is also testament to the strength of our local team in sourcing and investing in opportunities that aim to create value for our clients.'
'This long-term office building investment in the central and lively district of Hamburg is part of CNP Assurances' long-term and responsible investment strategy. The environmental performance of this building, awarded with a DGNB Gold certification, is in line with our commitment to the ecological and energy transition,' concluded Daniel Thébert, head of real estate investment at CNP Assurances.
