DekaBank has acquired 94% of the shares in the Caffamacherreihe project in Hamburg on behalf of the WestInvest InterSelect fund for EUR 100 mln. The seller was Big Bau Investitionsgellschaft, a partnership between HSH Real Estate, the province's holding company and the Herbert Gerisch foundation. The development will comprise 23,000 m[sup]2[/sup] of office and 5,600 m[sup]2[/sup] of residential space. The scheme is not due for completion until 2009, but 66% of the office space has already been leased on a long-term basis to insurance broker AON Jauch & Hübner.
DekaBank has acquired 94% of the shares in the Caffamacherreihe project in Hamburg on behalf of the WestInvest InterSelect fund for EUR 100 mln. The seller was Big Bau Investitionsgellschaft, a partnership between HSH Real Estate, the province's holding company and the Herbert Gerisch foundation. The development will comprise 23,000 m2 of office and 5,600 m2 of residential space. The scheme is not due for completion until 2009, but 66% of the office space has already been leased on a long-term basis to insurance broker AON Jauch & Hübner.
