CBRE Global Investors acquires Hanseviertel in Hamburg

CBRE Global Investors, on behalf of one of its funds, has acquired the iconic Hanseviertel mixed-use building in Hamburg’s historic centre from Allianz Lebensversicherungs (represented by Allianz Real Estate Germany).

With a combined GLA of ca. 38,850 sq m, the Hanseviertel consists of a shopping arcade, several high street units, a 205-room Renaissance Hotel (Marriott Group),14,400 sq m office space, and 15 residential apartments. The building is almost fully leased, with around 40 per cent of total income derived from the retail part. Anchor tenant of the office space is the City of Hamburg, with over 6,000 sq m. The property also includes a public parking garage, operated by APCOA, with 440 parking spaces. A further 160 private parking spaces are located in an additional underground garage and in the courtyard.
 
Prominently located at the corner of the Poststrasse and Grosse Bleichen high streets, Hanseviertel is one of the best-known shopping destinations in Hamburg’s historic city centre. The 1.5 ha plot includes several historic buildings and postmodern structures developed by Allianz Real Estate at the beginning of the 1980s. The shopping arcade was the first roofed arcade to open in Germany at the time. It received critical acclaim for its design, combining classical arcade features with traditional Nordic brick stone, as well as several national and international architecture prizes.
 
CBRE Global Investors was advised by CBRE and Linklaters, Allianz Real Estate Germany by JLL and BLP (Berwin Leighton Paisner LLP).