International investment manager Invesco Real Estate (IRE) has acquired the G45 mixed-use scheme at Hamburg's Gänsemarkt for around EUR 63.5 mln. The vendor is one of US group Carlyle's private equity real estate funds.
International investment manager Invesco Real Estate (IRE) has acquired the G45 mixed-use scheme at Hamburg's Gänsemarkt for around EUR 63.5 mln. The vendor is one of US group Carlyle's private equity real estate funds.
The eight-storey property offers over 2,800 m2 of retail space, as well as 9,000 m2 of office accommodation and 49 parking spaces. Main tenants are Luther Rechtsanwälte, HSBC, Alpers & Stenger, Planet Sports and Urban Outfitters.
Completed in 2008, the building is earmarked for a pan-European real estate fund for institutional investors managed by IRE. It is the second purchase made by the fund in Germany.
'We hope to complete further acquisitions in Germany this year,' commented Fabian Manegold, director of IRE Transaction in Germany.
Invesco was advised by law firm CMS Hasche Sigle, Mürlepartner and Deloitte. The Carlyle Group was advised by Clifford Chance and Grossmann & Berger.
