CBRE Global Investors has acquired a multi-let office in Hamburg for a Korean institutional seperate account client from local developer Becken for an undisclosed sum.
The deal came just days after CBRE GI announced it had purchased an assset in Barcelona on behalf of the same Korean institution.
Fleet Office II, City-Sud, Hamburg is a brand new Grade A office building, built in 2016, with a total of 20,246 m2 of space. It comprises 11 floors and is occupied by eight tenants with a weighted average unexpired lease term of approximately 10 years.
'This quality asset offers our client secure diversified income with a favourable lease expiry profile,' commented Myles Sanger, portfolio manager, CBRE GI.
'The investment market and economy in Germany is the strongest in Europe, and Hamburg is one of its largest, stable and most liquid office markets. We are pleased that we can add this desirable asset to our client’s portfolio.'
'As we approach the end of the first half of the year, we are well on our way to hit the acquisition target set for Germany in 2017. We are constantly looking for special opportunities like Fleet Office II and we are proud to have secured this asset for our client.” concluded Ulrich Oppermann, head of transactions Germany, CBRE GI.
