The three office buildings are in the City-South District ofHamburg. Two of the buildings were constructed in 2002, and theother was built in 1994. Ben Hall, global head of asset managementand performance reporting, said in a statement that the portfoliois about 75% occupied. "These off-market investments provide ourclients with a real opportunity to enhance value through activeasset management and letting," he said in the statement.

In Dusseldorf, the industrial properties are also about 75%leased, Hall said. "The inherent rollover of leases provides theopportunity to enhance the income stream and value over our plannedholding period," he said. The area has robust propertyfundamentals, he said.

With these purchases, the firm has increased its assets undermanagement to $268.6 million. A company representative could not bereached for comment.