TD News International Location: Hamburg

Akelius sells apartments in Munich and Hamburg for €420mn

06/08/2019 Akelius has announced the sale of 1,492 residential units from different construction years – half of which are located in Munich and half in Hamburg – for €420mn, corresponding to €4,800/sqm. The company declined to comment on rumors that the buyer is Patrizia. The Augsburg based investment firm did not respond to the inquiry. With [...]

Hamburg: Allianz locks in “Edge HafenCity”

01/08/2019 Developer Edge (formerly OVG) is selling one of its two planned new buildings in Hamburg’s Hafencity to Allianz Real Estate in an off-market forward deal. The structure in question is the 15-story office building “Edge HafenCity” with 22,500 sqm, which as yet (two years before anticipated completion) has not been pre-let. “The cooperation with Edge [...]

Hamburg: Quest sells Neue Burg to Aviva

01/08/2019 Quest Investment has sold its project Neue Burg 1 in Hamburg’s Nikolai quarter to Aviva Investors Real Assets. After completion in mid-2020, consumer goods group Unilever will be locating its Germany headquarters in the building. The nine floors offer about 6,500 sqm lettable space, of which 5,500 sqm are office space. Quest was advised by [...]

Hamburg: Boston Consulting leases from Quest on Ballindamm

19/07/2019 Quest Investment has signed the first tenant for its refurbishment project Ballindamm 17 on Hamburg’s Binnenalster. As TD learned from market insiders, Boston Consulting Group (BCG) will be moving into nearly 3,000 sqm in the historic building once construction work is completed in late 2020; CBRE is said to have advised on the deal. None [...]

Hamburg logistics take-up at an all-time low

15/07/2019 The market for industrial and logistics space in the greater Hamburg area is stagnating. During the first half of the year, Grossmann & Berger counted 60 deals for a total of 150,000 sqm, which is 40 % less space than during the same period of last year and the lowest total “since the start of [...]

Hamburg investment market could experience a “golden autumn”

11/07/2019 The brokerage firms report that the transaction volume for Hamburg commercial properties halved to around €1.1bn in H1. The inclusion of residential portfolios raises this figure to just over €1.5bn. Sarah Cervinka, Senior Team Leader Office Investment Hamburg at JLL, believes that total volume will rise to €5bn by the end of the year. “Interesting [...]

Hamburg: Gator set to go on Burstah ensemble

09/07/2019 The Burstah ensemble near Hamburg’s Rathausplatz is making progress again after a year’s hiatus. The sale of the project with 44,000 sqm above-ground GFA by Commerz Real to Gator was finalized on 30 May, after Commerz Real obtained the outstanding building permits. Meanwhile, Gator has developed a new excavation concept that does not include any [...]

New KanAm regional fund starts with acquisition in Hamburg

05/07/2019 The KanAm Grund Group has acquired the neighborhood retail center “Unser Viertel” in Hamburg for its new “Fokus Norddeutschland” spezialfonds. The property, located at Eulenkrugstraße 55-57 in the city’s Volksdorf quarter, was built as a shopping mall in 2004 and converted into a multi-tenant property in 2017. Its 5,000+ sqm of space now holds an [...]

Hamburg: Avison Young acquires Völckers & Cie

02/07/2019 The Hamburg commercial broker Völckers & Cie is now part of Avison Young. Völckers & Cie founding partners Jochen Völckers and Marc Bachmann are transferring their shares to the international brokerage firm and becoming Principals. Jochen Völckers is heading the Hamburg Avison Young branch, which will increase from 14 to 34 employees as a result [...]

Wirtgen Invest: already three acquisitions in 2019

02/07/2019 Wirtgen Invest closed its third real estate deal with the purchase of the “T8” office building in Frankfurt in 2019. The family office has confirmed the deal with Mirae, which had been reported exclusively by TD and valued at €400mn, and has announced that it is also the end investor in the redevelopment of the [...]