NAS Invest is the new owner of the Stadtparkturm in Hamburg-Winterhude. The Frankfurt-based company acquired the office tower on Hindenburgstrasse, which was built in 2001, from a real estate fund managed by a French asset manager. The transaction was completed at the end of last month, enabling the transfer of ownership to take place.
The office building offers a total of almost 9,000m2 of rental space, of which well over 90% has been let. Only the eighth floor of the tower, which comprises a total of ten floors, is currently vacant. The main tenant is the German branch of Bacardi, the world's largest privately owned spirits manufacturer and distributor, which occupies around a quarter of the space. Other tenants include the Polizeisozialwerk Hamburg, a company of the Hamburg district of the German Police Union (GdP).
Thanks to its striking circular architecture, the building offers daylight in all offices and a wide view over the Free and Hanseatic City of Hamburg from the upper floors. The Stadtpark recreational area with the Hamburg Planetarium and the summer outdoor pool at the Stadtparksee lake is within walking distance. Public transport connections are ensured by bus and subway stations in the immediate vicinity. For long-distance traffic, the slip road to the A7 motorway, which leads north to Denmark and south to the Austrian border, can be reached within 15 minutes. Hamburg Central Station and Helmut Schmidt Airport can also be reached by car in 10 minutes.
NAS is convinced that the location and architecture of the Stadtparkturm offer considerable yield potential, which is to be exploited in the coming years through active asset management.
NAS received legal advice on the transaction from the Hamburg law firm Mittelstein & Partner and tax advice from Luther. Arcadis was responsible for the technical due diligence. CBRE acted as an intermediary.
The transaction was advised by the asset manager Sienna Investment Managers and legally by Norton Rose Fullbright as well as technically by Witte Projektmanagement.
Image provided by NAS Invest.
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