German open-ended fund Deutsche Grundbesitz Investmentgellschaft (DGI) has bought a Hamburg property from Swedish property company NCC Real Estate for SKr200m. The deal reflects a yield of 6.5%.
The property, Kielerstrasse 143-147, is located in western Hamburg and provides 10,000m2 of rentable office space. The building was completed in 1998 and tenants include Compaq and Etap-hotel, part of the Accor chain.
Magnus Mannesson, president of NCC Real Estate, said the sale was in line with the company’s strategy of divesting fully-developed properties.
