HIH Hamburgische Immobilien Handlung (HIH) has acquired the ALTEZZA office building located in the Munich Westend for the Warburg - Henderson Deutschland TOP 5 Fund. HIH is the exclusive asset manager for Warburg - Henderson Kapitalanlagegesellschaft für Immobilien mbH in Germany. The seller is CBRE Global Investors on behalf of the CBRE European Office Fund (EOF).
The ALTEZZA office building was completed in 2009. It is located in the Landsberger Strasse/Barthstrasse and totals approximately 24,600 m² of lettable space and more than 280 parking spaces. The office building is nearly a 100% let and the tenants include British Telecom, APO Bank and a law office.
The floor space of the building can be flexibly subdivided and can thus be adjusted to meet the individual needs of each tenant. Heating and cooling are efficient and environmentally friendly, using district heating as well as groundwater and heat recovery
“ALTEZZA is a modern and sustainable building and as such perfectly fits our requirements”, says Hans-Joachim Lehmann, Director of Real Estate Transactions at HIH Hamburgische Immobilien Handlung GmbH.
Frederique Weber, Portfolio manager of EOF, added: “We were pleased finding a solid business partner in HIH. The transaction is a good result for the Fund.”
Legal advisor on behalf of HIH was Ashurst LLP. CBRE Global Investors was advised by GSK Munich.
Source: Citigate Dewe Rogerson