HSH Nordbank to finance shopping center at Hamburg-Altona station (DE)

HSH Nordbank is providing the Irish investors CMC Capital with the portfolio finance for the shopping center at the Altona railway station in Hamburg. The Bank’s finance amounts to about €56 million. London-based Chalkhill Partners LLP advised CMC Capital on the transaction.

The shopping center has an excellent position in the Altona district, being located directly next to the station for intercity and urban transport. The site’s useable floor space totals about 14,800 m² and is spread over two buildings plus a parking garage with 496 spaces. More than 55% of the space has been leased to well-known retailers that operate across Germany, while 14% is devoted to storage areas and nearly 13% is taken by an established fitness club. Numerous catering companies are available to the shopping center’s visitors at the railway station, rounding off the shopping experience.

“The property market in our core region of Hamburg continues to thrive. In the western part of the city for instance, the 'Neue Mitte Altona' project will involve large-scale urban development," says Peter Axmann, HSH Nordbank's Global Head Real Estate. “Altona station is located in middle of the district and is already a leading retail facility. The shopping center will benefit further from the impending urban development project.”

Source: HSH Nordbank

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