Hamburg: Real I.S. taking over Watermark and Shipyard
Real I.S. has acquired two office buildings of the “Intelligent Quarter” in Hamburg’s HafenCity. The office tower Watermark is intended for the “Themenfonds Deutschland I” of Real I.S., the Shipyard for the “BGV VII Europa”. The two properties together total more than 21,500 sqm lettable space and were finished this past summer. Developer and seller are project partners ECE and Strabag Real Estate. They were legally advised by the law firm Jebens Mensching LLP. JLL brokered the deal. The buyers received legal counsel from Noerr LLP. The “Watermark” has 14,500 sqm office and commercial space on 18 floors and measures 70 m in height. The neighboring “Shipyard” offers 7,000 sqm office and commercial space on seven floors. The ensemble also includes the residential building “Freeport”. Earlier reports quoted the investment volume at €150mn.
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