Press Release, 31 July 2018

Munich, 31 July 2018 – Following the successful sale of the Deichtor Center in June 2018, LPA Munich has advised the British insurance group Aberdeen Standard on the sale of another office property in Hamburg. This time, the Hanse Forum, which is located in downtown Hamburg, was sold.

The transaction was contucted by way of a share deal. The purchase price was approx. EUR 100,000,000. The property was built in 2002 and covers a lettable space of ​​approx. 19,000 square meters.

Seller is a fund managed by Aberdeen Standard Investments. Aberdeen Standard was formed through the merger of Aberdeen Asset Management PLC and Standard Life plc in August 2017.

Purchaser are the two top-7 and Deutschlande Selektiv Immobilien Invest funds (50% each) managed by Warburg-HIH. Warburg-HIH is a real estate investment company based in Hamburg.

Advisors (Aberdeen Standard): 

LPA (Munich): Dr. Fabian Tross (Partner, Lead Advisor, Real Estate), Oliver Kirfel LL.M (Partner, Lead Advisor, M&A), Andreas Feuerstein (Partner, Finance), Dr. Bernd Spieth (Partner, Tax), Marcel Graf (Senior Associate, M&A, Real Estate), Victoria Zilliken (Senior Associate) and Loreen Werner (Associate), both Real Estate

Advisors (Westbrook Partners):

Ashurst (Frankfurt): Dr. Liane Muschter (Partner, Lead Advisor, Real Estate), Jan Krekeler (Partner, Lead Advisor, M&A), Sven Nickel (Associate, Real Estate), Annabelle Sachs (Associate, Finance), Anna-Maria Krekeler (Associate, M&A)