Macquarie, Mapfre buy prime office property in Hamburg

Macquarie, Mapfre buy prime office property in Hamburg
An der Alster 42 Image: Courtesy of Mapfre

Macquarie Asset Management, the asset management arm of Macquarie Group and global insurance company Mapfre have acquired An der Alster 42, a prime office property in Hamburg from Allianz Real Estate.

The 6,000 sqm property is in the vibrant St. Georg district, near Hamburg’s city centre and close to key transport connections.

The six-storey prime office property overlooks the Outer Alster Lake and is leased on a long-term basis to two high-grade anchor tenants.

An der Alster 42 was developed in 2018 with consideration for the highest design and sustainability standards. Tenants of the fully accessible building benefit from high-quality furnishings, a green inner courtyard, a rooftop terrace, underground and outdoor carparking space, secure bicycle storage, changing rooms and shower facilities. In recognition of its strong sustainability performance, An der Alster 42 is DGNB Gold Certified.

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“We are pleased to have secured this high-quality asset on behalf of our investors. An der Alster 42’s excellent location, prime tenants, and strong focus on design and sustainability make it a welcome addition to our managed portfolio,” said Dana Gibson, Chief Investment Officer and Co-Head of Macquarie Asset Management’s Real Estate team in Europe.

Alfredo Muñoz Pérez, Chief Real Estate Officer of Mapfre, said: “An der Alster 42 is a best-in-class office building, perfectly positioned in one of Hamburg’s most dynamic districts. This acquisition underlines our continued success in securing attractive investment opportunities across Europe’s core real estate market for our fund investors.”­­­

An der Alster 42 was acquired by Macquarie Asset Management and Mapfre on behalf of investors via its co-managed real estate fund, which has invested in six core office properties across major European cities since 2019. The acquisition represents the fund’s second investment in Hamburg, having acquired the Steckelhörn 11 office building in 2019.

The terms of the transaction have not been disclosed.