Berlin’s Capital Bay has acquired a residential and commercial building in Ahrensburg near Hamburg as a private placement for a pension scheme. The property was sold in a forward deal by GFG Hoch-Tief-Bau-GmbH Co. KG, Henstedt-Ulzburg.
The four-storey building is scheduled to be completed in the third quarter this year. 56% of the 4,600 m² total rental area is residential, while the rest will be retail. A well-known retailer has signed a long-term lease and will be the property’s anchor tenant. Initial pre-rental agreements for the residential units are also already in place.
Ralph Ziegler, Managing Partner at CB Transaction Management GmbH, said: “In our first forward deal, we are utilising a further channel with which to secure residential properties in German metropolitan regions and high-growth cities on behalf of our clients. This is a perfect addition to our acquisition strategy that was geared towards existing properties to date.”
Ahrensburg is located approximately 30 km to the north-east of central Hamburg. It is the largest city in the Stormarn district, with a population of more than 34,400. Ahrensburg has a direct connection to the A1 motorway, is located on the railway line between Hamburg and Lübeck, and is connected to Hamburg’s local transportation network by underground.