MAGNA sells “Northern Metropoles” portfolio to BERENBERG fund

“We have a clear focus on properties in Hamburg and the metropolitan region. This makes us a suitable purchaser for the portfolio,” says Ken Zipse, Managing Director of Berenberg Real Estate Asset Management GmbH.

“On a macro level, the portfolio stands out for its strong locations in the Hamburg metropolitan region while also impressing with its clear structure. All four properties are in the office sector. On a micro level, the sound building fabrics and high occupancy rates are noteworthy and make the deal a very attractive investment,” says Jörn Reinecke, member of the Management Board of MAGNA Real Estate AG. “Having successfully built and disposed of the portfolio and achieved our target volume, we are now in the process of launching a second product with a target volume of EUR 150m. We are currently investigating properties with a total value of approximately EUR 500m.”

The sold properties in Hamburg-Langenhorn, Norderstedt-Garstedt and central Lübeck combine multi-tenant structures and high occupancy rates with sought-after office locations and a high-quality user experience for tenants. As a result of the acquisition, the fund managed by Berenberg as the asset manager and Universal Investment as the financial investment management company has significantly increased its exposure to the office sector and is almost fully invested.