HAMBURG, GERMANY-Behringer Harvard has purchased an 80,000-square-foot office complex here called Holstenplatz 20, 20a and 20b. The eight-story building, sold by Eurocastle, was built in 1998.
The building has some space available, though the exact occupancy was not released. Current tenants include the Hanseatic Academy for Marketing and Media GmbH, Deutsche Bahn AG and Thomsen Group International Strategy Consultants.
The property is adjacent to the Holstenstrasse station and quick connections to major traffic arteries, including the autobahn, said Samuel Gillespie, COO of Behringer Harvard Opportunity REIT II. He said in a statement that this complex was purchased at a substantial discount for replacement cost and appraised value. The exact purchase price and the seller were not disclosed. “We will tap into the local management and leasing expertise…to maximize occupancy and reposition this well-located asset,” Gillespie said.
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