HIH buys Hamburg office from Morgan Stanley

German investment manager HIH Hamburgische Immobilien Handlung has acquired an office complex in Hamburg from Morgan Stanley’s P2 Value fund that is in liquidation.

The Fleetrand complex was purchased for a special fund of Warburg-Henderson, for which HIH acts as asset manager in Germany.

Financial details about the deal, which closed in July, were not disclosed.

The property is located close to the Hamburg docks and consists of three buildings covering around 14,000 m2 of floor space. The bulk of the complex is let to the federal customs organisation.

Morgan Stanley Real Estate Investment was advised on the legal side of the transaction by Clifford Chance.

Hamburgische Immobilien Handlung (HIH) is part of the German private banking group M.M.Warburg and has been active in real estate investment management for over 20 years. The Hamburg-based company has real estate assets under management of around €4.1 bn.