Real IS, the real estate arm of German lender BayernLB, has purchased a mixed-use building in Hamburg’s district of HafenCity on behalf of an individual investor.
Financial details were not disclosed.
Officefirst is the vendor of the asset.
‘HafenCity is one of the most important urban development projects in Europe. The building’s striking architectonic appearance makes it a worthy addition to this special location,’ commented Axel Schulz, global head of investment management at Real I.S. AG.
The ten-floor property, dubbed Sumatrakontor, has a footprint of approximately 9,600 m2 and a gross floor area of over 30,000 m2. Besides office and retail units, it comprises 86 residential units.