Dieter Becken and Castlelake acquire 109 properties in the Hamburg region (DE)

Dieter Becken and Castlelake reportedly acquired a portfolio comprising of 109 properties situated around Hamburg. The portfolio is mainly made up of a package sold by Haspa (Hamburgishe Sparkasse) to SVP (Strategic Value Partners) back in 2007. The portfolio was estimated to be worth around €400 million and contained 118 properties. The price of the transaction was not revealed but is estimated to be around €330 million.

The portfolio is located almost entirely in the Hamburg area (34% in downtown Hamburg) and consists of 55% of mixed use commercial buildings with office and residential space.

Dieter Beckman plans to optimize, manage, and sell the commercial properties in Hamburg throughout the year.

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