Hamburgische Immobilien Handlung (HIH) has bought the Columbus-Haus property in Hamburg for €74m – reflecting a net yield when fully let of 6% – from a consortium of investors.
HIH bought the asset for Warburg-Henderson from Tishman Speyer andLehman Brothers.
The asset isin the HafenCity development, adjacent to Hamburg’s new concert hall, Elbphilharmonie.
The 18,100 m2 building, designed by Frankfurt architectsNägele, Hofmann, Tiedemann & Part, was built in 2002 and is let to law,insuranceand accountancy firms.
CB Richard Ellis advised Tishman Speyer.
Also in the HafenCity, Morgan Stanley is selling a €200m mixed-use scheme that itacquired as part of a portfolio it bought in 2007 from developer Quantum.
