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Hamburg: PGIM buys office buildings from Rockspring

PGIM Real Estate has purchased three office buildings and a construction lot in Hamburg-Langenhorn from the Rockspring fund "TransEuropean V Property Partnership Limited” in an off-market transaction. Rockspring had bought the assets on Essener Bogen 7, 17, and 89 three years ago and then extended the leases and made capex investments. The office buildings have a total of 27,600 sqm lettable space and were built in the 90s. The site measures 4,100 sqm. PGIM is calling the portfolio "Magnet".

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