Hannover Steel Real Estate Advisors, the Hannover-based investor and asset manager, has confirmed plans to spend €70 mln on German offices.
Hannover Steel is partnering with real estate manager Kintyre for its strategy, to allow its own management team to focus on new acquisitions and intensive asset management programmes.
Hannover Steel currently holds around 25,000 m2 of office space in Germany, in both Bremen and Hannover, and wants to continue targeting strong yielding office assets where value can be delivered through an active approach.
'We are excited to be working with Kintyre to enhance our operational capabilities around tenant engagement, operating cost management and reporting. We anticipate a successful collaboration as we look to execute our expansion strategy in the secondary office markets in Germany,' commented Fergal Creed, partner at Hannover Steel.
Adam Pearce, partner at Kintyre Management said: 'We are very pleased that through Kintyre’s established platform in Germany we will be able to support Hannover Steel in their growth ambitions for this market.'
