DIC Asset AG has acquired the “Doppel-X-Haus” property located at Heidenkamps-weg 58 in Hamburg from an institutional investor. The office building, which was raised in 1999 and extensively refurbished in 2017, is located in the Hammerbrook district and has a gross lettable area of 17,000 m² plus 160 parking spots. Anchor tenants are two cruise tour operators, TUI Cruises and Hapag Lloyd Kreuzfahrten. CBRE and CMS Hasche Sigle acted as advisors for the acquisition.
“For the acquisition of the Doppel-X complex in Hamburg, we exploited our superb market access to secure another core asset in a persistently competitive market environment. Having added all three of the warehoused assets to the recently launched special real estate fund Retail Balance I in October, we thus have another superior warehoused asset at our disposal that will let us move ahead with our fund business as planned,” said Sonja Wärntges, CEO of DIC Asset AG.
DIC Asset AG employs the warehousing strategy to secure attractive properties for the purpose of forming start-up portfolios for special funds yet to be launched. Doing so enables the company to back new fund products with their first assets soon after they go live.