Press

HDG Mansur Acquires €48.5 Million Property Portfolio In Germany From Calliston

12 March 2007

The London office of HDG Mansur has completed the acquisition of two office buildings in Germany, located in Berlin and Dresden, on behalf of the HSBC Amanah Global Properties Income Fund for €48.5 million. HDG Mansur purchased the 23,600 sq m portfolio from Calliston, a leading German developer.

The property in Berlin, comprehensively refurbished in 2006, provides a total of 7,300 sq m rentable space. The landmark former IBM headquarters building on the Ernst-Reuter-Platz consists of eight storeys of modernised office accommodation with retail on the ground floor, ancillary basement storage and has a two level parking garage accessed from the rear of the site. The offices have been designed around a central core to provide maximum efficiency and flexibility. The property is located in the established City West Charlottenburg submarket of Berlin and there is access to the Ernst-Reuter-Platz U-Bahn station immediately in front of the building, which adds to the attraction of the location.

The Dresden property is located on Blaswerwitzer Strasse, which runs between the city centre and the iconic Loschwitzer bridge and is one of the main east-west road arterial routes in the district of Blasewitz, an affluent area of the city comprising a mix of quality office and residential accommodation. The lettable area within the property is 16,300 sq m arranged over a ground floor and four upper floors and provides high quality office accommodation, with ground floor retail space and basement storage and parking. The building is located close to the renowned Dresden University teaching hospital and is currently multi let, with R&V Allgemeine Versicherung AG being the major tenant.

Harold D. Garrison, Chairman and CEO of HDG Mansur said: "The German office occupational market is reaping the benefits of increasing confidence in the German economy. Coupled with a high demand from international investors this has had a positive effect on the German investment markets, which in turn is being supported by an improved office occupational market. 2006 saw HDG Mansur's first foray into the German markets and these latest deals form part of the company's continued focus on the European market."

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Notes to Editors:

HDG Mansur
HDG Mansur is a leading international real estate company, with 25 years experience in providing real estate fund and asset management and property development services for private clients and select institutions worldwide. Since 1982, HDG Mansur has advised, developed or managed international real estate projects and investments totalling over €4 billion in North America, Europe and Southeast Asia.

As of 31st December 2006 HDG Mansur's business activity includes:

  • €4 billion in international real estate investments
  • €1.9 billion of real estate assets currently under management worldwide
  • €2.9 billion in real estate financing
  • €835 million in planned and managed equity
  • €2.1 billion in real estate value of fund investments
  • 27 million square feet in real estate investments
  • 25 years of experience
  • 3 offices worldwide – London, New York and Indianapolis

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