Hamburg, October 10, 2022. Becken, a specialist in project development, revitalization, asset and investment management of commercial and residential real estate, has sold the DGNB Gold and WiredScore Gold-certified new office building at Klostertor 1 in Hamburg to the Austrian ERSTE Immobilien Kapitalanlagegesellschaft m.b.H as of 1 October 2022. The multi-tenant property has a usable area of around 17,000 square meters. Of this, around 13,700 square meters are let as office space and around 1,600 square meters as restaurant, sports and terrace space.

Becken was awarded the contract for the exposed 3,500 square meter site by the City of Hamburg in 2017. This was preceded by a concept tender in which Becken impressed with a forward-looking usage concept for the completion of the Klostertor quarter. An occupancy rate of currently 90% was achieved by the time of completion in May of this year. Well-known long-term tenants from the renewable energy sector are LichtBlick SE (green electricity) and Vestas Deutschland (wind turbines). The buyer was convinced by the fact that the structural quality and tenant structure meet all the requirements for a sustainable investment.

Peter Karl, Managing Director of ERSTE Immobilien Kapitalanlagegesellschaft m.b.H. says: "The ConneXion Office is not only excellently conceived and designed for long-term usability. Through its users, it also generates rental income that could hardly be more sustainable. These are all criteria for a contemporary and sustainable investment. There are currently only a few projects on the market that meet these criteria so comprehensively. In addition, we were once again able to work very professionally with the Becken team and conclude a top deal in an uncomplicated manner."

Dominik Tenhumberg, Managing Director of Becken Development GmbH, adds: "We are delighted that we have been able to implement another successful transaction with Erste Immobilien KAG. We now have a partner at our side who appreciates the quality of the product and will manage the ConneXion Office in a highly professional manner over the long term. From the outset, our primary goal was to develop a future-oriented office location that appeals to progressive users and represents an attractive investment for buyers. We have achieved these goals."

The architectural design was carried out by the renowned architectural firm Störmer Murphy and Partners. The interior work is scheduled for completion in the fourth quarter of 2022.

The sales process was carried out by the brokerage firms Jones Lang Lasalle SE and BNP Paribas Real Estate. The law firm Walch Rittberg Nagel advised Becken Development on the transaction. Legal advice on the buyer side was provided by Raschke von Knobelsdorff Heiser.