PATRIZIA AG has sold the Ericus-Contor office building in Hamburg, Germany, to Union Investment Real Estate in the largest single real estate transaction by value in Hamburg this year.
Ericus-Contor is a modern landmark building located at the opening of the HafenCity area of Hamburg, the largest inner-city urban development project in Europe. Designed by award-winning architectural firm Henning Larsen, the asset comprises 18,900 square meters (203,000 square feet) of space across nine floors, which is fully leased to a range of occupiers including Chanel, Maersk and Hapag-Lloyd. Completed in 2012, Ericus-Contor has DGNB Platinum certification, highlighting its sustainability credentials.
PATRIZIA acquired the Ericus-Contor in 2014 and, following a program of active asset management, has now completed its business plan for the property.
Philipp Schaper, head of transactions Europe at PATRIZIA, said, “This sale of a landmark trophy asset in one of Germany’s l
