Hamburg, April 9, 2019.
The investment and asset manager Hamburg Trust has purchased an office building in Flensburg.
The property at Rathausplatz 15 that was built in 1995 and extensively refurbished in 2018 provides a total rental area of 5,000 square meters and a car park with 178 parking spaces. The four-storey-building is purchased in the context of an asset deal for the special fund “HT Office Top 30 Invest”. The parties agreed not to disclose the purchase price.
The property is fully let in the long term and is located in close proximity to the Flensburg town hall, on the access road to the city center. Tenants are the Commerzbank, the Barmer Ersatzkasse and the TTP AG, in addition to the City of Flensburg.
The open-end special fund “HT Office Top 30 Invest“ is an individual fund mandate from a German insurance company. It invests in German and Austrian locations in medium-sized towns and metropolises of more than 100,000 inhabitants with a positive demographic and economic development, as well as in sought-after locations in the Top-7-Cities. The fund was established in 2018 by Hamburg Trust KVG. The current transaction is already the third acquisition for the fund.