Germany's Quantum Immobilien KAG has bought two car parks in Cologne and Erfurt and announced the sale of an office building and adjacent hotel in Hamburg.
Germany's Quantum Immobilien KAG has bought two car parks in Cologne and Erfurt and announced the sale of an office building and adjacent hotel in Hamburg.
The car parks in Cologne and Erfurt were bought for the Spezialfonds City Parking fund representing an investment of €34 mln.
The underground car park in Cologne was built in 2005 and offers 340 spaces. The property is operated by Apcoa Parking. The parking garage in Erfurt was delivered in 2000 and provides 730 parking spaces operated by Q-Park.
The purchase brings the total number of assets owned by the fund to 13, representing a combined value of €120 mln. The planned volume of the core/core-plus fund is €200 to 250 mln.
Separately, Quantum said it has sold the Georgstor office building and the adjacent Motel One Hamburg Alster. Financial details were not disclosed.
Georgstor is fully leased and provides 23,445 m2 of rentable space. Main tenants include E.ON Best Service which occupies 15,500 m2. The asset was acquired by local investor Real IS.
Opened in April 2010, the Motel One hotel offers 464 rooms on 20 floors and was acquired by Bayernfonds Property Management. The seller was advised by JebensMensching and the buyer by Rödl & Partner. CBRE brokered the transaction.
