Hamburg: Aviva Investors acquires, on behalf of one of its clients, Alexan­der­strasse 1 in Hamburg from Quest Investment Partners

Hamburg: Aviva Investors acquires, on behalf of one of its clients, Alexan­der­strasse 1 in Hamburg from Quest Investment Partners 150 150 QUEST Investment Partners

Hamburg: Aviva Investors acquires, on behalf of one of its clients, Alexan­der­strasse 1 in Hamburg from Quest Investment Partners

Hamburg, 13 October 2020. Aviva Investors, the global asset management business of Aviva plc, has acquired, on behalf of one of its clients, an office block formed of two inter­con­nected buildings in Hamburg’s Alexan­der­straße 1, from Quest Investment Partners.

The building, which together totals approx­i­mately 13,200 sq m of lettable floor­space, is fully let to the Munic­i­pality of Hamburg as part of a 20-years lease agreement. The rooms are home to the University of Applied Sciences (HAW), Hamburg’s second largest university, which also uses some of the spaces as offices.

Origi­nally two buildings built in 1950 and 1979, the property was subse­quently modernised in 2010. It is located in Hamburg’s central St. Georg district close to Lake Alster - between the central train station and the Berliner Tor office and business centre - and offers excellent public transport connec­tions. Premium hotels such as the Grand Hotel Atlantic Kempinski and Le Méridien are all within walking distance, as are the two main shopping streets of Möncke­bergstraße and Spitaler­straße, as well as theatres, galleries and the Kunsthalle art museum.

“We are pleased to make a new deal with the trans­ac­tions team of Aviva Investors, following Neue Burg 1. The sale of this core property confirms our strategy of focusing on central locations in Germany’s top 4 cities,” says Luis Walther-Kraft, Head of Trans­ac­tions & Partnering at QUEST Investment Partners.

Grégoire Bailly-Salins, Head of Trans­ac­tions Conti­nental Europe at Aviva Investors, added: “This acqui­sition adds to our existing porto­folio of assets under management in Hamburg, including Neue Burg 1, ABC Straße 35 and Dornbusch 2 - 4. St Georg is an estab­lished location in the city, which already attracts core investors and large corporate tenants. We believe this submarket will improve further over the coming years, and add to the long-term potential of our portfolio under management.”

QUEST Investment Partners was advised by Hansa Partner Rommel & Meyer as tax adviser and SNP Schlawien as legal adviser. Aviva Investors was advised by DLA Piper, ARUP and BNP Paribas Real Estate.

About QUEST Investment Partners
Founded in 2016, QUEST Investment Partners is an investment and project devel­opment company with offices in Hamburg, Berlin, Munich and Frankfurt. QUEST focuses on invest­ments in commercial properties with upside potential in top locations of major German cities and the Benelux countries. The team has extensive experience in the devel­opment of high-quality real estate projects. QUEST Funds is in charge of the fund business of the real estate company and makes individual invest­ments in cooper­ation with insti­tu­tional investors. The share­holders of QUEST Investment Partners are the managing directors Theja Geyer and Jan Rouven Künzel as well as the investment holding company of the Hamburg entre­preneur Erck Rickmers.

www.quest-investment.com

About AVIVA INVESTORS
Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven perfor­mance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £346 billion in assets as at 30 June 2019.

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