HANSAINVEST increases project development volume to €300m

Hamburg-based fund manager HANSAINVEST Real Assets is beefing up its project development pipeline to around €300m in Hamburg, Düsseldorf, Berlin and Munich.

Projects include Ballindamm 27, a listed office building in Hamburg’s city centre and a hotel under construction on ‘Am Wehrhahn’ in central Düsseldorf. A lease for the building has already been signed with the operator HENRI HOTEL.

In addition to taking on more project development, HANSAINVEST is seeking to undertake joint ventures with other project developers: ‘This will allow us to realise bigger projects,’ said Nicholas Brinckmann, chairman of the management board. Development activity is focused on office and residential properties in major cities.

‘Significantly reduced vacancy rates and a high level of demand have helped to make office property developments attractive again,’ Brinckmann added.

HANSAINVEST Real Assets entered the development space in 2013. One of its biggest projects to date was the development of the ‘Überseering’ office building in the City Nord district of Hamburg, which created 19,000 sqm of office space and 600 square metres of restaurant space. The project was completed in 2016 with a total investment volume of around €61.5m. (ssk)