IVG Institutional Funds has acquired the Ericus-Contor building in Hamburg’s HafenCity urban development for an undisclosed amount.

IVG Institutional Funds has acquired the Ericus-Contor building in Hamburg’s HafenCity urban development for an undisclosed amount.

The vendor was a consortium consisting of ABG Allgemeine Bauträgergesellschaft, Kommanditgesellschaft and Avis Immobilien. The transaction was carried out via shares for one of IVG’s special funds and is expected to close before the end of the year.

Ericus-Contor comprises a total area of around 19,000 m2 divided over 10 storeys and two underground levels and is located in the centre of the HafenCity development. The multi-tenant building was completed in 2011-2012 and carries a Gold certificate from the German Green Building Council DGNB.

IVG Institutional Funds was advised on the transaction by Hogan Lovells und Drees & Sommer. The vendor was represented by BNP Paribas Real Estate, law firm Wagensonner Rechtsanwälte Partnerschaft and ALR Treuhand.