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.

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