Montano Real Estate GmbH Secures Office and Retail Building in Hamburg for Pension Fund

Montano Real Estate GmbH has announced the acquisition of an office and retail building in Hamburg for a German professional pension fund, from Ofi Invest Real Estate. The property, situated in Hamburg's old town, encompasses approximately 5,700 square meters of space and includes two underground car parks. The building, constructed around 1960 and renovated in 2006 and 2012, is fully let with Quantum being the main tenant. It is noted for its central location, modern office fit-out compliant with the “New Work concept,” and high ESG standards.

The Dornbusch 2-4 asset's location is highlighted as exceptionally central, offering easy access to Hamburg's landmarks and public transportation. Montano Real Estate's investment team, expressing satisfaction with this acquisition, views the property as embodying essential qualities for a long-term investment due to its full tenancy, diverse tenant structure, and alignment with high ESG standards. The transaction is marked as a significant achievement in a challenging market environment, with the property pre-assessed for DGNB Gold Standard certification in July 2023.

Legal, tax, technical support, and commercial due diligence for the transaction were provided by POELLATH, WTS, Albrings + Müller, and Colliers International Hamburg, respectively. BNP Paribas Real Estate, DLA Piper, BWS, and Drees & Sommer advised on behalf of Ofi Invest Real Estate.