- Its gross lettable area is 9,000 square metres
- Multi-tenant property with a WAULT of 12.5 years
Hamburg, 12. December 2018 – Warburg-HIH Invest Real Estate (“Warburg-HIH Invest”) just acquired an office property with a gross lettable area of around 9,000 square metres plus 140 underground parking spots in Hamburg. The property is located in the eastern part of town, close to the sought “City Süd” office submarket. The multi-tenant property is fully let. The weighted average lease term (WAULT) is 12.5 years. Anchor tenant is hospital operator Asklepios Kliniken Hamburg on a 15-year lease. The property is earmarked for the Immobilienfonds Norddeutscher Versorgungswerke real estate investment fund. Seller is the Hamburg-based company Wegner Immobilien. The sale was brokered by Lütgen Breiholdt Immobilien, a local estate agency that also facilitated the sales process.
“With a rent level that remains below the potential of newly constructed buildings, this well-managed property offers both long-term cash flows and a great appreciation potential in a location open to further development,” said Hans-Joachim Lehmann, Managing Director at Warburg-HIH Invest.
“With a rent level that remains below the potential of newly constructed buildings, this well-managed property offers both long-term cash flows and a great appreciation potential in a location open to further development.”
Hans-Joachim Lehmann
Warburg HIH Invest
