GE Real Estate has bought a 11,000 m[sup]2[/sup] office building in Hamburg from HIH Hamburgische Immobilienhandlung for EUR 25 mln. The five-storey office was developed in 2005 and is multi-let to a range of tenants including Oracle and HansaLeasing, a subsidiary of CommerzLeasing. The property is located in the Altona area of Hamburg, on a site known as Kuhnehofe.

GE Real Estate has bought a 11,000 m2 office building in Hamburg from HIH Hamburgische Immobilienhandlung for EUR 25 mln. The five-storey office was developed in 2005 and is multi-let to a range of tenants including Oracle and HansaLeasing, a subsidiary of CommerzLeasing. The property is located in the Altona area of Hamburg, on a site known as Kuhnehofe.

'This acquisition provides GE Real Estate with further exposure to the attractive Hamburg office market, one of its key target areas for growth and builds on the office acquisitions made earlier this year when the company acquired a German specialty property fund for EUR 420 mln,' the company said. This transaction brings GE RE's total assets in Germany to EUR 1.2 bn.

GE Real Estate was advised by Grossmann & Berger and P+P Pollath + Partners.