BNP Paribas REIM has acquired the 22,000m² iconic office building “Deichtor Office Center” in Hamburg from Westbrook Partners, a US-based real estate investment management company, on behalf of its OPCI BNP Paribas Diversipierre. Completed in 2002, Deichtor Office Center is unique in the Hamburg office real estate market due to its iconic design and architecture. With stunning glass façade, the triangular building - sound and climate insulated - is an unmistakable eye-catcher and a striking symbol of the city. The multiple award-winning building, created by architects Bothe, Richter, Teherani, is rented to several tenants over its 10 storeys.
The property is located at the gate to the Hamburg Freeport and stands at the interface between the city centre, the main train station and the Elbe river. From the historical red brick warehouses of the Speicherstadt district to the modern architectural masterpieces of the HafenCity district, it benefits from a great location and excellent connection to public transportation. The purchase price was not disclosed.
Jean-Maxime Jouis, Head of Fund Management at BNP Paribas REIM France, stated: “Deichtor Office Center’s strong location within the second-largest city in Germany is a nice addition to BNP Paribas Diversipierre’s pan-European portfolio, which now includes several investments in Munich, Düsseldorf and Frankfurt carried out over the past few months”.
Isabella Chacon Troidl, Chief Investment Officer at BNP Paribas REIM Germany, added: “Deichtor Office Center benefits from excellent rental conditions, and sits neatly with our strategy of targeting assets with high value-creation potential”.
