Deutsche Investment KVG just acquired additional real estate in Hamburg. The properties add up to a combined lettable area of around 16,420 sqm that divides into 244 residential and 24 commercial units, virtually all of them tenant-occupied. The parties agreed not to disclose the respective selling prices.
The acquisitions were transacted within the framework of a single mandate for an institutional investor account and on behalf of a separate asset pool that Deutsche Investment manages in association with EB GROUP. The properties were sold by a Hamburg-based family office and by an insurance group, the transfer of benefits and burdens took place collectively on 01 July 2020.
One residential complex is located in Hamburg’s Barmbek district and was raised in 1918. Historically a working-class area, Barmbek has in recent decades evolved into a vibrant residential quarter that is particularly popular among young families and students. The other asset, a mixed residential/retail building, is located in the district of Eilbek and was built in 1954/1961. For its tenants, the close proximity of the “Wartenau”
Source : Company