Montano acquires another office and retail building in Hamburg for a professional pension fund
Issuer: Montano Real Estate GmbH
/ Key word(s): Real Estate
Montano acquires another office and retail building in Hamburg for a professional pension fund
Munich, 8. April 2024 - Montano Real Estate GmbH ("Montano", www.montano.eu), a highly specialised partner for investments in commercial real estate, acquired another attractive office and retail building for a German professional pension fund. On behalf of a client, the asset was acquired from Ofi Invest Real Estate. Built around 1960 and extended and modernised in 2006 and 2012, the buildings have seven (Dornbusch 4) and eight (Dornbusch 2) storeys including staggered storeys and roof terraces. The office fit-out is modern. The office spaces are in line with the “New Work concept” and also offer users wellbeing areas. The upper floors are used for offices, while the five commercial units on the ground floor are used for retail stores and restaurants. In addition to the underground car parks, the first basement floor offers 119 square meters of storage space, while the second basement floor offers a further 240 square meters of storage space. Surrounded by Hamburg's landmarks, the Dornbusch 2-4 ensemble is characterized by its excellent city center location. It is only a few steps to the town hall, the cathedral square, the Binnenalster or Hamburg's shopping mile, Mönckebergstraße. There are five bus stops in the immediate vicinity of the building and the subway is also just a few meters away. "We are delighted that we have been able to acquire another extremely attractive property for our client after the ´Haus am Staatstheater´ in Wiesbaden," says Hossein Gharany, Director Investment at Montano Real Estate. "The houses at Dornbusch impress with their extremely central location in the heart of Hamburg city center, their very good building fabric, the flexible room concept and the modern furnishings." Samson Weldemariam, Head of Investment, adds: "We successfully completed several transactions in 2023 in a challenging market environment and we will remain active in the current year and intend to make further acquisitions. The Dornbusch offers everything that is essential for a long-term investment: it is fully let, has a diversified tenant structure and already meets the high ESG standards." “This transaction, in a really difficult market, emphasizes the attractiveness of the Dornbusch asset which is part of a portfolio that was built up by Ofi Invest Real Estate, on behalf of its clients, very selectively and always with a strong focus on the location and the quality,” emphasizes Charles-Henri de la Chapelle, Head of Asset Management at Ofi Invest Real Estate SAS. A pre-assessment for certification in accordance with the DGNB Gold Standard was carried out for the property in July 2023. Based on this, a concrete action plan was developed with which the property can be brought up to the DGNB Green Building Standard "DGNB Gold" through targeted investments. POELLATH provided legal support for the transaction, WTS provided tax advice and Albrings + Müller provided technical advice and Colliers International Hamburg supported Montano in the commercial due diligence. Ofi Invest Real Estate was advised by BNP Paribas Real Estate, DLA Piper provided legal support, BWS provided tax advice and Drees & Sommer advised the seller on the technical part.
About Montano Real Estate About Ofi Invest Real Estate Ofi Invest Real Estate covers the entire real estate management value chain – fund management, investment, real estate project developments, asset and property management – to offer solutions that meet and satisfy the needs of each of its clients, through its two separate entities (2). Ofi Invest Real Estate manages total real estate assets of 11.2 billion euros as of December 31th 2023 located in four European countries. The company embraces values of sustainability and the principles of SRI throughout its investment philosophy. Ofi Invest Real Estate conducts a thorough and pro-active upgrading policy on its property portfolio, ensuring that Environmental, Social and Governance (ESG) criteria are factored into the decision-making process. (1) Source: financial reports published by the entities concerned as of 31/12/2022. (2) The Ofi Invest Real Estate arm includes two separate companies: Ofi Invest Real Estate SAS, dedicated to the management of real estat assets, and Ofi Invest Real Estate SGP, dedicated to the management of real estate funds. www.ofi-invest-re.com Contact
Ofi Invest Real Estate SAS
Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Montano Real Estate GmbH |
Lenbachplatz 5 | |
80333 München | |
Germany | |
Internet: | https://www.montano.eu/ |
EQS News ID: | 1874771 |
End of News | EQS News Service |
|