SEB Asset Management has signed an agreement to acquire a core property in Hamburg for its SEB Europe REI real estate special fund.
SEB Asset Management has signed an agreement to acquire a core property in Hamburg for its SEB Europe REI real estate special fund.
The German fund manager has bought a fully-prelet development project at Domstrasse 10 providing nearly 8,000 m2 of office and retail space. The asset is worth over €30 mln and will be transferred to the SEB AM fund on delivery at year-end.
The seller is Art-Invest Real Estate Management GmbH & CO. KG, a developer-investor based in Cologne.
This is the first acquisition in Germany by the SEB Europe REI fund. 'As a result of its location and quality, the building meets our investors’ high standards and is a valuable addition to the portfolio,' said Roland Maria Döhn, fund manager for the SEB Europe REI special real estate fund.
The SEB Europe REI real estate special fund is focused on European commercial properties in the core/core plus risk segment. It currently owns around €175 mln of assets in five countries, namely in Finland, France, the UK, Austria and Poland.
