Allianz acquires the Überseehaus in Hamburg together with QUEST Investment Partners

Allianz acquires the Überseehaus in Hamburg together with QUEST Investment Partners 150 150 QUEST Investment Partners

Allianz acquires the Überseehaus in Hamburg together with QUEST Investment Partners

Munich, July 20, 2018. Allianz and QUEST Investment Partners have jointly acquired the Überseehaus office and commercial building at Baumwall 5-7 in Hamburg, which was built in the 1980s. The multi-tenant property is optimally connected to public transport and has around 11,300 sqm of space, most of which is rented. The aim is to reposition the asset, a nine-storey building located in a prominent location on Baumwall with views of the Speich­er­stadt, Elbphil­har­monie and the Port of Hamburg as part of a joint venture. QUEST will take over the active asset and project management. The parties involved have agreed not to disclose the purchase price. Allianz Real Estate acquired the building on behalf of several Allianz insurance companies.

“We are delighted that we were able to acquire our first manage-to-core project in Hamburg with Überseehaus,” says Annette Kröger, CEO at Allianz Real Estate Germany. “We see great devel­opment oppor­tu­nities for this tradi­tional building with its striking archi­tecture. We are also pleased to be working with QUEST Investment Partners.” For Allianz, this is the first joint venture with a project developer in Germany.

“The fact that we have been able to convince Allianz with our work and win them over as partners for this attractive project is a fine confir­mation of our investment strategy,” says Jan Rouven Künzel, managing partner of QUEST. “Over the next few years, the property is to be modernised. The efficient office space in the best Elbe location with views of the Elbphil­har­monie and the harbour will enable the property to be optimally reposi­tioned on the Hamburg real estate market in the medium term”.

Allianz and QUEST Investment Partners were advised exclu­sively by Jebens Mensching LLP and Hansa Partner.

Press contact:

Allianz Real Estate Claire Fraser
+49 (0) 89 3800 8236
claire.fraser@allianz.com

Citigate Dewe Rogerson (UK) Nick Corrin / Patrick Evans / Hugh Fasken
+44 (0) 20 7638 9571
nick.corrin@citigatedewerogerson.com / hugh.fasken@citigatedewerogerson.com / patrick.evans@citigatedewerogerson.com

QUEST Investment Partners Stefanie Rother
+49 (0) 160 972 88 057
rother@quest-investment.com

About Allianz
The Allianz Group is one of the world’s leading insurers and asset managers with more than 86 million retail and corporate customers. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assis­tance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing over 650 billion euros on behalf of its insurance customers while our asset managers Allianz Global Investors and PIMCO manage an additional 1.3 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold a leading position in the Dow Jones Sustain­ability Index. In 2016, over 140,000 employees in more than 70 countries achieved total revenue of 122 billion euros and an operating profit of 11 billion euros for the group.

About Allianz Real Estate
Allianz Real Estate is the strategic real estate organi­zation within the Allianz Group and a leading inter­na­tional real estate investment and asset manager. Allianz Real Estate develops and executes worldwide tailored portfolio and investment strategies on behalf of the Allianz companies, consid­ering direct as well as indirect invest­ments and real estate loans. The opera­tional management of invest­ments and assets is currently performed in 5 regions, West Europe (Belgium, France, Italy, Luxemburg, Portugal, Spain), North & Central Europe (Austria, CEE, Germany, Ireland, Nordics), Switzerland, USA and Asia Pacific. The headquarters of Allianz Real Estate are located in Munich and Paris. Allianz Real Estate has approx­i­mately 56 billion euros assets under management.

About QUEST Investment Partners
QUEST Investment Partners is a real estate project devel­opment and investment company with offices in Hamburg and Berlin. QUEST focuses on invest­ments in commercial and residential properties with upside potential in top locations of major German cities. In retail devel­op­ments the focus is on good inner-city locations in German metro­politan regions. The QUEST team has extensive experience in the devel­opment of high-quality real estate projects and contin­u­ously aims at increasing the real estate values of its share­holders and investors. QUEST’s share­holders are the managing directors Theja Geyer and Jan Rouven Künzel as well as the investment holding company of the Hamburg entre­preneur Erck Rickmers who is invested in real estate, equity invest­ments and shipping.
www.quest-investment.com

Cautionary Note Regarding Forward-Looking Statements
In so far as forecasts or expec­ta­tions are expressed in this document or where our state­ments concern the future, these forecasts, expec­ta­tions or state­ments may involve known or unknown risks and uncer­tainties. Actual results and devel­op­ments may therefore differ consid­erably from the expec­ta­tions and assump­tions made.
Such devia­tions may arise due to, without limitation, (i) changes of the general economic condi­tions and compet­itive situation, partic­u­larly in the Allianz Group’s core business and core markets, (ii) perfor­mance of financial markets (partic­u­larly market volatility, liquidity and credit events), (iii) frequency and severity of insured loss events, including from natural catastrophes, and the devel­opment of loss expenses, (iv) mortality and morbidity levels and trends, (v) persis­tency levels, (vi) partic­u­larly in the banking business, the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the euro/US-dollar exchange rate, (ix) changes in laws and regula­tions, including tax regula­tions, (x) the impact of acqui­si­tions, including related integration issues, and reorga­ni­zation measures, and (xi) general compet­itive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activ­ities and their consequences.

No duty to update
The company is under no oblig­ation to update the infor­mation and the forward-looking state­ments made in this report, provided there is no statutory publi­cation requirement.

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