Ashurst advised Warburg-HIH Invest Real Estate (Warburg-HIH Invest) on the acquisition of the office campus project of the French Société Générale group in Hamburg from the developer ECE by way of an asset deal. The parties agreed not to disclose the purchase price.
The six-storey new building with approximately 25,000 sqm of rental space and 350 underground parking spaces is being constructed at Fuhlsbüttler Straße 431 in the dynamically developing Barmbek district of Hamburg. DGNB certification in gold is being sought for the office complex, which is conveniently and attractively located near the City-Nord office district and the Hamburg City Park.
Two banks of Société Générale group, namely the Bank Deutsches Kraftfahrzeuggewerbe and the Hanseatic Bank, will move into the multi-tenant object after its completion as main tenants with long-term leases over a period of 15 years. Completion is envisaged in spring of 2022.
The Ashurst team was led by partner
Dr Liane Muschter. She was assisted by senior associate Sven Nickel, associates
Raphaela Schmidt and Florian Wörner as well as transaction lawyers
Isabella Strauß and
Ingrid Schmidtgal (all Real Estate, Frankfurt). Partner
Derk Opitz and senior associates Frederik Jahn and
Torsten Limberg advised on financing matters. Partner
Dr Anders Kraft and senior associate
Dr Susanne Knoch advised on tax law.
Ashurst's longstanding client Warburg-HIH Invest is one of the leading investment managers for real estate in Germany and Europe and represented at ten locations throughout Europe. Currently, assets with a volume of 11.6 billion euros are being managed across 72 funds.
