SEB Asset Management has acquired Domstrasse 10 in Hamburg, a fully let office and commercial building valued at over €30 million, from Art-Invest Real Estate. The purchase agreement with the real estate and project development company was signed in March 2014.
The multi-tenant property is located centrally between the city center and the Hafencity district and is the first purchase in Germany for the SEB Europe REI real estate special fund.
The building was converted into a modern office and commercial premises with a historic, listed facade in 2014 and an extension was added. The property has a total of approximately 5,700 sqm of office space and approximately 560 m² of retail space on the ground floor and is let to four long-term tenants from a wide range of sectors.
Sustainability was a key consideration right from the start of the refurbishment of Domstrasse 10. The building was awarded Gold LEED certification at the beginning of the year for its sustainable construction.
“The Domstrasse 10 property is an excellent fit with the Fund’s requirements profile. The purchase allows us to successfully reinvest the proceeds of the sale of the logistics property in Enns within a very short period in a prime building in one of Hamburg’s top locations”, said
Roland Maria Döhn, fund manager for SEB Europe REI at SEB Asset Management. “Our aim for 2015 is to diversify the portfolio by exploiting investment opportunities, particularly in southern Europe and in the Benelux countries, using new investor capital.”
Source: SEB Asset Management