Ofi Invest Real Estate has acquired, on behalf of one of its clients, an office building - Cube 10, located in Hamburg.
The asset was sold by a fund managed by Amundi Real Estate. The purchase price was not disclosed.
Cube 10 offers 9,500 m2 of flexible office space and is fully let, with an average remaining term of around five years.
The building also offers a good growth potential in terms of rent, considering its high-quality spaces and its excellent location in Hamburg central business district.
Located on the corner of Axel-Springer Platz in Hamburg’s central business district, the property benefits from an excellent connection to public transportation. The pleasant canal area and the premium shopping street Neuer Wall are within walking distance, as are the City Hall and the Alster.
Grégoire Bailly-Salins, head of transactions Europe at Ofi Invest Real Estate, said: 'We are pleased to secure this transaction in a particularly difficult market environment.
'The asset is perfectly in line with our strategy of investing in Core assets in top German Cities and demonstrates strong opportunities we are seeing in the international real estate market.'
Ofi Invest Real Estate was advised by DLA and CBRE.
Amundi Real Estate was advised by JLL, Clifford Chance and Sienna Real Estate.
Ofi Invest Real Estate, the real estate arm of Ofi Invest group, manages more than €12.8 bn. Ofi Invest is the fifth largest French asset management group, with €182 bn assets under management.
