Hamburg Trust has bought the new headquarters of the German timber and metal workers association in Mainz.
Hamburg Trust has bought the new headquarters of the German timber and metal workers association in Mainz.
The asset was sold for roughly €55 mln by developer J. Molitor Real Estate. The scheme is already under construction with completion scheduled for the end of 2014.
It provides a lease area of 17,400 m2 and about 500 parking spaces situated near the city centre at the popular Kisselberg office location.
The complex is pre-let to the trade and insurance association with a term of 15 years.
Hamburg Trust said it plans to transfer the asset to a special fund for institutional investors with an equity volume of about €27.5 mln to be launched in early 2014.
Hamburg Trust is a fund and asset manager with assets under management of about €1.3 bn.
