The Carlyle Group Sells Freshfields House in Hamburg to Deka Immobilien

Hamburg – Global private equity firm The Carlyle Group has sold Freshfields House in Hamburg to Deka Immobilien GmbH. The parties have agreed not to disclose the purchase price. Eight storeys high and offering some 11,900 m2 of office and retail space, the modern office and commercial building at Hohe Bleichen 7 is situated in one of Hamburg’s prime shopping and retail locations. The head tenant is the international law firm Freshfields Bruckhaus Deringer, after whom the building is named. The hand over of the building to Freshfields was on the 1st December.

“We have completed yet another project development in Germany and are pleased to have found in Deka a prestigious buyer for the property. As this sale demonstrates, our strategy of developing high-quality properties in dynamic regional markets continues to be successful even in a more difficult economic environment,” said Dr Wulf Meinel, Managing Director with Carlyle Europe Real Estate. “Freshfields House is one of three prominent projects which we are currently managing in Hamburg. We have chosen Hamburg as an investment location because of the ideal conditions this Hanseatic city offers. Thanks to its prime properties, Hamburg is particularly attractive for international investors,” added Hartmut Glück, Director with Carlyle Europe Real Estate.

Commencement of the Freshfields House, which has been designed in the style of traditional Hamburg office buildings, combining functionality with architectural sophistication, was in fall 2007. Following its completion, this building now complements the “dress circle” at Hohe Bleichen.

Carlyle Europe Real Estate Partners have launched three funds in Europe, investing in office, retail and logistics property portfolios. In Germany, the funds currently manage and develop investment properties at Gänsemarkt 45 and the BrahmsQuartier in Hamburg as well as a project development in Cecilienallee in Dusseldorf and the project development of City Gate across from the central railway station in Stuttgart.

The transaction was brokered by Colliers Grossmann & Berger, Hamburg.

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