Hamburg: Investcorp buys Airport-Center
The “Airport-Center” on Langenhorner Chaussee 40-44 in the north of Hamburg is changing hands again. Amundi had bought the office property with a total of 35,000 sqm in October 2015 for its Opcimmo fund; in the spring of 2018, it went to American investor Ares Management as part of a portfolio spread over seven cities. As TD learned, the Hamburg property is now to be sold again to Investcorp of Bahrain. Both Investcorp and Ares have not replied to an inquiry. The purchase price is rumored to be €80mn to €90mn. The building dating from the early 1990s is leased in small units; nearly 2,000 sqm office space on the lower levels are currently still available for a net rent of €11.50/sqm. Investcorp first appeared on the German market a year ago with the purchase of an office park in Stuttgart and continued with acquisitions in Düsseldorf, Eschborn, und Frankfurt.
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