US private equity giant Blackstone has bought the Sumatrakontor mixed-use building in Hamburg's HafenCity from fund manager Pramerica’s open-ended TMW Weltfonds, which is in liquidation.
US private equity giant Blackstone has bought the Sumatrakontor mixed-use building in Hamburg's HafenCity from fund manager Pramerica’s open-ended TMW Weltfonds, which is in liquidation.
A Blackstone spokesman confirmed the purchase to PropertyEU but did not disclose the price or other details.
The property includes 17,675 m2 of office, 7,660 m2 of residential, and 4,600 m2 of retail space and was bought by TMW for €140 mln in 2008.
Pramerica announced in June 2011 that it planned to dissolve the TMW open-ended fund due to liquidity problems. The fund manager has until 31 May 2014 to sell its assets and wind down the fund.
