R+V buys commercial property near Billstedt-Center in Hamburg

21/01/2019

Insurer R+V Versicherung is buying another large retail property in Hamburg, after the Lahoma and the Karstadt-Sports building. This next acquisition is the commercial building on Möllner Landstraße 3 next to the Billstedt-Center with anchor tenants Primark and Müller Drogerie. The seller is Signature Capital. JLL brokered and advised on the transaction. The seller was legally advised by Loschelder, the buyer by Hogan Lovells. The former Karstadt building has about 15,000 sqm lettable space. The core property is integrated into the adjacent Billstedt Center, but forms a separate unit. According to market insiders, the purchase price was in the high double-digit millions.


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