• 4,600 square meters of office space and 36 underground parking spaces
• Property at Englische Planke 2 is fully let

HIH Invest Real Estate GmbH (HIH Invest) has sold the Michelkontor office and commercial building in Hamburg’s Neustadt district to the real estate family office PAMERA Real Estate Partners GmbH. The property at Englische Planke 2 was built by Quantum AG in 2002 and acquired by HIH Invest in 2014 for the Norddeutscher Versorgungswerke real estate fund. The property comprises 4,630 square meters of rentable space, of which 4,600 square meters are office space and 30 square meters are storage space. There are also 36 underground parking spaces available. The office and commercial building is fully let. Tenants include Barmenia Krankenversicherung AG and Dachser SE.

“The sale of Michelkontor in Hamburg shows that high-quality office properties in top locations in A cities continue to attract keen interest, especially from family offices,” said Daniel Asmus, Team Leader Transaction Management Office Germany at HIH Invest.

“During the holding period, we were able to increase the occupancy rate to 100 percent with our active asset management. This created an attractive starting point for marketing and enabled us to achieve a very good result for our investors,” explains Christian Kramp, Senior Fund Manager at HIH Invest.

The transaction was accompanied by real estate consultants Grossmann & Berger. The parties have agreed not to disclose the purchase price.

Photo: Jenner Egberts