Warburg-HIH Invest Real Estate has acquired an office and residential building in Hamburg on behalf of its Immobilienfonds Norddeutscher Versorgungswerke fund for an undisclosed sum.
Featuring around 2,600 m2 of space in total, and located in the city centre at Valentinskamp 30, the property is almost fully let.
'Given the tense situation in the investment markets, we look specifically for investment opportunities which involve a higher level of management without making any compromises as to the quality of the location,' commented Felix Meyen, head of transaction management Germany of Warburg-HIH Invest Real Estate. 'Alongside our deep market penetration, key factors here are our expertise in letting and asset management.'
The property, built in 1998, features seven storeys in total with office space of 1,500 m2 and 920 m2 of residential space. There is a small area for gastronomy on the ground floor and ten lower level carparking spaces.
Together with Colliers Denmark, Colliers International Hamburg acted in an intermediary capacity during the transaction. The seller received legal advice from Kiel-based Cornelius + Krage, and the buyer from Hamburg-based CMS Hasche Sigle.
Warburg-HIH Invest's Immobilienfonds Norddeutscher Versorgungswerke invests exclusively in the region of northern Germany, with a special focus on Hamburg. Preferred asset classes are office and retail properties, supplemented by acquisition of operator-run and special usage properties.
