A joint venture between Peakside Capital Advisors AG and Partners Group has sold the Spaldingstrasse 77-79 office and commercial property in Hamburg to May & Co. The asset is part of the so-called Omega portfolio, the largest part of which Peakside and Partners Group secured for their clients about a year ago. It encompasses 30 office and logistics properties in large German cities as well as in France and the Netherlands.
The asset is located in Hamburg’s Munzviertel quarter and is within walking distance to the central train and bus stations. The property offers around 9,000m² of GLA as well as 140 spaces in an underground car park and is utilised by a mix of occupiers. The buyer is planning to redevelop the asset over the mid-term. The purchase price was not disclosed.
Maximilian May, Managing Director of May & Co., said: “After the City itself, City South is the most favoured office location in Hamburg. Over the past years, a number of commercial and residential developments have increased the attractiveness of the micro-location. We are planning to take advantage of that trend.”
Simon Lutz, Partner at Peakside, said: "We received decidedly positive market feedback on the property. The offers were all very attractive, supporting the intrinsic value of the assets in the Omega portfolio and our decision to acquire it at the time.”