Morgan Stanley Real Estate Funds (MSREF) has divested the Deichtor Centers in Hamburg, Germany to Alpina Real Estate, a Luxembourg real estate platform launched by Conren Land. Although the transaction price was not disclosed, it is believed to amount to roughly EUR 65 mln.
Morgan Stanley Real Estate Funds (MSREF) has divested the Deichtor Centers in Hamburg, Germany to Alpina Real Estate, a Luxembourg real estate platform launched by Conren Land. Although the transaction price was not disclosed, it is believed to amount to roughly EUR 65 mln.
Designed by star architect Hadi Teherani, the office building was built between 2000 and 2002 and provides some 19,500 m2 of office space.
The scheme was part of a major portfolio acquired by Morgan Stanley back in 2007 from German property investor Dieter Becken for around EUR 670 mln. The deal also included the Berliner Bogen, which in April this year Morgan Stanley sold back to Dieter Becken for just over EUR 100 mln.
