publity AG (Scale, ISIN DE0006972508) successfully sells modern office building in Hamburg to BlackRock Investment Management Ltd., after nearly a 20 month holding period. With approximately 28,500 square metres, the 547th property in the publity portfolio 'Economic Center' boasts both the AXA Group and Daimler AG as its main tenants. The latest renowned tenants as of March 2017, being the main tax office and Bilfinger Hochbau GmbH.

publity made its first prominent acquisition in the Hansestadt in the middle of 2015 and with their asset management experience and professionalism were able to significantly increase the value of the property. In addition, in a national comparison, Hamburg as an office location has grown in stature. 'We have now achieved the successful increase in value and selling the property for a profit, 'says Thomas Olek, CEO of publity AG.

Located 1.5 km east of Hamburg city centre in the Hammerbrook area, the 'Economic Center' is on a 9,470 square metre plot with 318 parking spaces available.

The complex, consisting of two linked buildings, extends from the basement over six upper floors with a large showroom. The property is part of a larger office complex, which was developed in 2001 and consists of four connected buildings offering three courtyards.

The law firm CMS Hasche Sigle, with a team led by lead partner Frank Schneider, was responsible for the comprehensive legal advice on the transaction, including project management and legal due diligence. The NAI Apollo Group was acting as intermediary for this transaction.

Publity AG published this content on 09 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 June 2017 07:48:17 UTC.

Original documenthttp://www.publity.de/en/investor/2016-05-25-13-59-26/press-releases/item/998-publity-guides-its-asset-management-mandate-with-the-successful-sale-of-the-office-complex-economic-center-in-hamburg-to-blackrock-ltd

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