Hamburg, 2. April 2019 – Warburg-HIH Invest has now closed the disposal of five prestigious office properties to real estate funds managed by Amundi Immobilier pursuant to the agreement reached in late 2018. The assets are located in the cities of Berlin (Potsdamer Platz), Frankfurt (Oper 46 and Schillerstrasse) and Hamburg (Brooktorkai and Valentinshof), and were acquired for the “Warburg-HIH Deutschland TOP 5 Fonds” open-ended institutional real estate fund between 2008 and 2012. Their combined gross lettable area is above 70,000 square metres.
The portfolio is characterised by a balanced mix of blue-chip tenants representing a variety of industries, and by an outstanding risk-return profile with stable cash-flow. Four of the five properties are multi-tenant assets. The Oper 46 building in Frankfurt was let to the co-working provider The Office Group on a fifteenyear lease as recently as 2018. These properties designed a perfect fit for the investment profile of the funds managed by Amundi Immobilier, which focus on core properties in Europe’s core markets.
“With this transaction, we are completing the largest portfolio sale in the company’s history,” said HansJoachim Lehmann, Managing Director of Warburg-HIH Invest. “It is a German property portfolio of exceptional value and outstanding performance in a market that will continue to serve as a stabilising anchor.”
Amundi Immobilier was supported by L’Etoile Properties for commercial aspects, by Clifford Chance in legal matters as well as Drees & Sommer on technical issues. The seller was advised by Ashurst. The transaction itself was brokered by JLL.
“With this transaction, we are completing the largest portfolio sale in the company's history. It is a German property portfolio of exceptional value and outstanding performance in a market that will continue to serve as a stabilising 2/2 anchor.”
Hans-Joachim Lehmann, Managing Director
Warburg HIH Invest