HDG Mansur's London office has completed the acquisition of two office buildings in Germany on behalf of the HSBC Amanah Global Properties Income Fund for EUR 48.5 mln. HDG Mansur purchased the 23,600 m[sup]2[/sup] portfolio from German developer Calliston.
HDG Mansur's London office has completed the acquisition of two office buildings in Germany on behalf of the HSBC Amanah Global Properties Income Fund for EUR 48.5 mln. HDG Mansur purchased the 23,600 m2 portfolio from German developer Calliston.
In a statement released at the MIPIM property fair in Cannes, France, HDG Mansur said the first property is the landmark, former IBM headquarters building on the Ernst Reuter-Platz in Berlin. The property, which was totally refurbished in 2006, provides 7,300 m2 of rental area. The second property is located on Blaswerwitzer Strasse, which runs between the city centre in Dresden and the iconic Loschwitzer Bridge. The property provides a lettable area 16,300 m2.
'The German office occupational market is reaping the benefits of increasing confidence in the German economy,' said Harold D. Garrison, chairman and ceo of HDG Mansur. '2006 saw HDG Mansur’s first foray into the German markets and these deals form part of the company’s continued focus on the European market,’ he said.
Acting as development advisor for Finzels Reach, HDG Mansur also announced the financing and commencement of construction of a new EUR 373 mln mixed-use development in the UK city of Bristol. Finzels Reach is a joint venture of HDG FLR Sarl, Al-Muthanna Investment Company and Nakheel United Real Estate Company.
Separately, HDG Mansur has committed to the purchase of two large logistics developments in the Dutch city of Rotterdam. One of the projects will provide 20,000 m2 of lettable space. The other will have 30,000 m2. The financial details of the sale on completion transaction were not disclosed. HDG Mansur, the market leader in Islamic real estate finance, provides real estate fund and asset management services and property development services.