La Française Forum acquires core office asset in Hamburg

La Française Forum Real Estate Partners (LFF Real Estate Partners) has acquired a prime office building in the HafenCity district of Hamburg for €21 mln.

LFF Real Estate Partners was acting on behalf of several collective real estate investment vehicles managed by La Française. The vendor was Deka Immobilien.

Located at 68 Am Sandtorkai, the asset was developed in 2004 and offers around 3,727 m2 of lettable floor space together with 41 parking spaces. The property is located in the HafenCity district of Hamburg, not far from the newly developed concert hall Elbphilharmonie and within walking distance from the Baumwall metro station.

The property is fully leased to five tenants, including Field Fisher Waterhouse, a multinational law firm, and Nacora International Insurance Brokers, an independent commercial insurance broker.

Jens Goettler, managing director-Germany, LFF Real Estate Partners, said, 'The property is located in one of Hamburg’s most sought-after office locations. The prime location as well as the quality of the building make this an exceptional core real estate investment. S68 represents our fourth investment on behalf of a La Française collective real estate investment vehicle, bringing total investments to over €120 mln. We continue to actively source deals in the market and will hopefully soon be able to report further acquisitions in Germany.'

La Française Forum Real Estate Partners was advised by Colliers.