Hamburg, July 2, 2014 – The fully leased “Harburg Carrée” in Hamburg has been sold to Austrian investment company ERSTE Immobilien KAG for €37.4 million. At the same time, a property management contract was signed with Prelios Deutschland GmbH, which has managed the district complex for several years. The contract covers leasing, commercial and technical property management, and parking garage management.
The seller of the 23,000-square-meter mixed-use property is a joint venture between Prelios and a Morgan Stanley Real Estate Investing fund.
Peter Karl, Managing Director of ERSTE Immobilien Kapitalanlagegesellschaft m.b.H., commented:
“We are very pleased with this acquisition. Harburg Carrée is a great addition to our portfolio, featuring a healthy tenant structure and a prime location.”
Karl continued:
“As a long-term investor, professional property management is particularly important to us. We are therefore delighted to have Prelios as an experienced partner who has managed the property and its tenants for many years.”
Martin Mörl, Managing Director of Prelios Deutschland GmbH, added:
“We are excited to continue managing the Harburg Carrée as a real estate partner. This transaction benefits both parties: Harburg Carrée is a highly attractive investment asset, offering investors a strong performance and stable cash flows due to its diversified usage structure.”
Mörl further explained:
“This deal is a perfect example of our growth strategy—securing long-term management contracts following the successful development and positioning of a property.”
Prime Location with Strong Tenant Mix
Built in 1998, Harburg Carrée is located in a central district location in Hamburg-Harburg, near the pedestrian zone. The Harburg train station is within walking distance.
The 23,000 square meters of rental space include:
- Retail and office space
- 177 residential apartments
- A parking garage with 512 spaces
Notable tenants of Harburg Carrée include:
- HÖB Public Library
- Hamburg Adult Education Center (VHS Volkshochschule)
- Lidl discount supermarket
With this transaction, Prelios continues to expand its long-term management portfolio while strengthening its position as a leading full-service real estate provider.
