Kiel: Hamborner acquires office project for €21mn
Hamborner Reit has acquired an office project in the city center of Kiel for €20.9mn. The new building located at Kaistraße includes approx. 6,550 sqm of lease space and according to Hamborner will accumulate a rental income of approximately €1.16mn annually. The gross initial yield amounts to approx. 5.5%. The seller and developer is KPE from Wiesbaden. Completion and transfer of ownership are scheduled for the middle of 2017. Hackenberg & Co. advised on the transaction.
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