Deutsche Investment has acquired two residential and commercial properties in the St. Georg and Winterhude districts of Hamburg on behalf of an institutional property fund it manages. In total, the properties comprise 3,812 m² of lettable area, comprising 52 flats and 6 commercial units. The two existing properties are situated in established residential areas with high demand and benefit from excellent infrastructure and superb links to Hamburg city centre. The high proportion of residential units, the stable letting patterns and the nearfull occupancy rate make the properties an attractive addition to the existing portfolio.
With this acquisition, Deutsche Investment is further expanding its presence in the Hamburg residential property market. The Hanseatic city ranks among Germany’s strongest economic centres and has been experiencing sustained population growth and consistently high demand for housing for many years. These conditions create a stable market environment for longterm investments.
“This transaction demonstrates that attractive acquisition opportunities can be identified and successfully realised even in a highly competitive market environment. In particular, the combination of established residential areas, a high proportion of residential units and long-term development prospects makes these two properties a valuable addition to the portfolio,” says Ines Hannemann, Transaction Manager at Deutsche Investment Kapitalverwaltung AG.
“We have been monitoring the Hamburg residential property market very closely for years. Even in a changing market environment, we see interesting opportunities for residential investments in Hamburg. With this transaction, we have succeeded in acquiring two properties that fit very well with our long-term investment approach,” says Gilbert Merz, Head of Transaction Management at Deutsche Investment Kapitalverwaltung AG.
Technical due diligence was carried out by Drees & Sommer. Legal and tax due diligence was conducted by GSK Stockmann Hamburg and Capstone Legal Rechtsanwaltsgesellschaft mbH. The estate agency Elbe & Spree Invest GmbH supported both transactions, and Wüest Partner acted as valuer.
