Erlangen: Hamborner REIT acquires office and shopping project
Hamborner REIT AG has acquired the shopping, service and office center in eastern Erlangen called “Campus Röthelheimpark”. The building will have 10,700 sqm of usable area and will be completed during the second quarter of 2011. The developer and seller of the new complex is Sontowski & Partner. The investment volume totals approximately €28mn. The gross initial yield is quoted by Hamborner at around 6.9%. The firm had already acquired the new “atrium” office building from Sontowski by the end of 2009. Up to now, Hamborner reported, it has invested approximately €150mn in new real estate this year.
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