Hamburg, 29. March 2019 – Warburg-HIH Invest Real Estate GmbH (Warburg-HIH Invest) just sold an office property located at Hamburger Süderstrasse 63 to Deka Immobilien GmbH. Raised in 1999 and fully occupied at the moment, the multi-tenant building has a lettable area of around 9,950 square metres plus 55 underground car parking spots and 13 surface parking spots. Its main tenant is the Institute for Federal Real Estate (BIMA). The deal was transacted on behalf of an investment company of HIH Group which had acquired the property upon completion. Having successfully renewed the lease with BIMA after an ownership period of twenty years, the sale is an excellent way to start winding down the investment fund. It was agreed not to disclose the purchase price.
“We seized the opportunity to sell at the end of the fund term of twenty years to raise an attractive capital appreciation potential for our investors,” said Hans-Joachim Lehmann, Managing Director of Warburg-HIH Invest. With a total office stock of more than 1.5 million square metres, City Süd constitutes Hamburg’s second-largest submarket.
“We seized the opportunity to sell at the end of the fund term of twenty years to raise an attractive capital appreciation potential for our investors.”
Hans-Joachim Lehmann, Managing Director
Warburg HIH Invest