Chatham Partners advises on the sale of HGZ
Under the leadership of Linn Lehne, Chatham Partners advised on the sale of the Hansa Gewerbe Zentrum (HGZ) in Rothenburgsort.
Hamburg entrepreneur and investor Erck Rickmers sold the HGZ to the Sirius Group in a strategic transaction for around EUR 32 million. The commercial park comprises approximately 41,000 m² with approximately 29,500 m² of lettable space and is almost fully occupied, including by Vergölst, PV Automotive and Speicherstadt Kaffeerösterei.
The sale process was supported by CBRE and Quest Investment Partners, among others. With the completion of the transaction, the seller is implementing a targeted portfolio adjustment, while the Sirius Group is strengthening its position in the Hamburg metropolitan region and acquiring a property with stable cash flow and development potential.
"The HGZ was a stand-alone property in our real estate portfolio and will receive the attention it deserves from Sirius Real Estate Ltd., which specialises in industrial parks. We are focusing our investments on commercial properties with development potential in central locations in Berlin, Frankfurt, Hamburg and Munich," says seller Erck Rickmers.
The legal advice provided to the seller by Linn Lehne and Louica Unger covered all aspects of contract negotiation and drafting. With this mandate, Chatham Partners once again underscores its strength in transaction advisory services.
