TRIUVA has bought a Hamburg office asset for a German pension fund for around €48m.
The investment manager bought the four-block property from CBRE Global Investors.
Triuva said it was acting for a new investment limited partnership with the German pension fund.
The 14,000sqm building, in the Ottensen district, is let to consultancy and advertising companies.
Built in 2007, the blocks are almost fully let.
Wenzel Hoberg, chief executive at Triuva, said: “The purchase of this core asset in an up-and-coming location offers enormous potential for development and is an excellent fit for our investment strategy.
“By acquiring it in an investment limited partnership, we are also using a comparatively new investment vehicle.
“We are convinced this structure will continue to establish itself alongside that of the traditional special fund.”