Allianz Real Estate buys BrahmsQuartier in Hamburg (DE)

Allianz Real Estate Germany GmbH started the year with purchasing the Brahms Quartier office complex at Kaiser-Wilhelm-Strasse 40 in Hamburg. The sellers are a subsidiary of the globally acting alternative Asset Management The Carlyle Group and Aug. Prien Real Estate. It has been mutually agreed to not disclose the purchase price.


BrahmsQuartier is currently 80% let.

BrahmsQuartier was completed in 2009 in a prime location of central Hamburg. It contains about 26,500 m² of office space as well as some 2,900 m² used for other purposes, and also parking for around 540 vehicles. Exxon Mobil and the law firm KSP are the main tenants of BrahmsQuartier, which is currently 80% let.

"By buying BrahmsQuartier, we started the new year after an extraordinarily successful 2010," declared Stefan Brendgen, CEO of Allianz Real Estate Germany. "Allianz Real Estate's new property investments in 2010 totaled about €1.8 billion – more than ever before. And in 2011, we'll be firmly continuing to build up the Allianz real estate portfolio."

Allianz was advised by Linklaters and CB Richard Ellis, the Carlyle Group and Aug. Prien by Clifford Chance and Grossmann & Berger.

Source: Allianz Real Estate

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