German asset manager WealthCap has announced the acquisition of two office properties in Hamburg and Hanover from TUI Beteiligungs and TUI for over EUR 83 mln. The assets provide a total area of nearly 55,000 m2, and around 900 parking spaces.
German asset manager WealthCap has announced the acquisition of two office properties in Hamburg and Hanover from TUI Beteiligungs and TUI for over EUR 83 mln. The assets provide a total area of nearly 55,000 m2, and around 900 parking spaces.
The building in Hamburg is fully leased with a 20-year rental agreement to Hapag Lloyd while the asset in Hanover houses the corporate headquarters of European travel group Tui.
WealthCap, which manages a portfolio of EUR 2.8 bn, plans to transfer the properties to its 33rd German closed-end real estate fund which will be placed on the market in mid-2011.
WealthCap is a 100% subsidiary of UniCredit Bank which was founded in early 2007 by three subsidiaries of Unicredit, Blue Capital, HFS and HVB FondsFinance.
