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Transactions - OCTOBER 27, 2021

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QUEST Investment Partners takes ownership of Hamburg office building

by Kali Persall

QUEST Investment Partners has acquired an 11-story office and commercial building in Hamburg in an off-market transaction. The seller was a joint venture consisting of Tristan Capital Partners and Investa Real Estate.

The building comprises 14,100 square meters (151,771 square feet) of rental space and 144 car-parking spaces. Built in 1973, the property received a complete refurbishment and an energy efficiency upgrade in 2014 and 2019.

It is located in Hamburg’s St. Georg district, next to the Steindamm 94 office building, which is also part of QUEST’s portfolio.

“We are very convinced by the central location of this building within the public transportation network,” said Luis Walther-Kraft, head of transactions and partnering at QUEST. “Furthermore, we see this fully let office-asset as a strategic, long-term investment, which will profit from a significant increase of the neighborhood.”

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