02.02.2021

LEADING CITIES INVEST acquires the Hammer Strasse administration building in Hamburg

  • The long-term tenant is the Hanseatic City of Hamburg for its administrative facilities
  • LEADING CITIES INVEST now comprises 34 properties at 24 locations in 9 countries

LEADING CITIES INVEST has bought the administration building on Hammer Strasse, which is rented to the Hanseatic City of Hamburg. The city-state of Hamburg is home to various local authorities on the 16,000 square meters. The modern building is rented long-term. Due to the open, very functional layout, the high flexibility of space as well as the location, a large number of office concepts are possible when it comes to re-letting. With Hammer Strasse, Germany will be strengthened as a location in the LEADING CITIES INVEST. The real estate portfolio will be further diversified both geographically and in terms of the tenant profile and the quality of the location of the most recent acquisition will enhance the fund’s focus on prime core assets. The LEADING CITIES INVEST is mainly invested in properties that are used as offices. The already moderate tenant default risk will be further reduced with the city of Hamburg as a long-term tenant. After the addition of the Hammer Strasse property, the LEADING CITIES INVEST property portfolio is spread across 34 properties at 24 locations in nine countries.
 
The renowned rating agency Scope confirmed the positive rating of LEADING CITIES INVEST with the grade “a + AIF” for the fourth time in a row in 2020. According to Scope, LEADING CITIES INVEST has the best real estate portfolio within the commercial real estate funds in Germany. Also, in November 2020, the KanAm Grund Group received the Scope Award 2021 as the best asset manager in the “Retail Real Estate Europe” category. The strengths of the LEADING CITIES INVEST in the Covid 19 crisis were also particularly highlighted here. There are no hotels in the fund that are particularly hard hit by the Covid 19 crisis, and retailers only account for 7 percent of all tenants in the fund properties.
 
The Hammerstrasse property is located in the eastern Hamburg district of Wandsbek. With a direct connection to the two S / U-Bahn stations Wandsbeker Chaussee and Hasselbrook, the connection to local public transport is first class. Hamburg Central Station can be reached in just nine minutes and the Jungfernsteg in just 13 minutes.
 
The immediate environment of the property is characterized by authorities and state institutions (including the district office of Hamburg-Wandsbek, center for economic development, district court Hamburg-Wandsbek, state archive, social welfare office Hamburg-Wandsbek). The cluster formed from authorities and state institutions will make the location attractive for a large number of official institutions in the future too.

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