Hamburg: Montano buys office building in Bahrenfeld
Montano Asset Management announced its first real estate acquisition since its realignment. The company, established through a management buyout with McCafferty and with headquarters in Munich and Berlin, is acquiring a 12,700 sqm office building at Notkestraße 13-15 in Hamburg’s Bahrenfeld district from Nordrheinische Ärzteversorgung through an asset deal. The building must be revitalised and repositioned. Montano is placing it in a project enterprise in which the Hamburg-based BNS Real Estate Capital has a stake. Völckers & Cie brokered the acquisition. Montano was advised by Cushman & Wakefield. The transaction was also legally advised by the law firms Walch Rittberg Nagel and Legerlotz Laschet. Montano sees the acquisition as a classic investment in a secondary location of a primary city, and is still seen to have good opportunities for returns. The company’s 14 employees manage 70 properties with a total value of €1.4bn.
Subscribers to our premium service have access to this article in full as well as to an additional 480,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany's leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.