HSH finances Hamburg residential property portfolio for Round Hill Capital
Hamburg/Kiel, May 30, 2018 - HSH Nordbank is making available € 113.5 million to Round Hill Capital to buy a largely residential-use portfolio in Hamburg.
The portfolio comprises twelve properties in prime locations around Hamburg’s Alster lake. Just under 26,000 sq.m. of space are divided into 298 apartments, on top of 3,480 sq.m. of usable space in 22 commercial units. Restructuring work is planned for the buildings, and some of the houses will be given an attic, which means that around 2,900 sq.m. in additional living space are likely to be created.
Round Hill Capital is a leading real estate investment, development and asset management company and has invested more than € 6.5 billion in European real estate portfolios since its establishment in 2002. To date, Round Hill has acquired more than 100,000 residential units in Europe, and it numbers among the biggest private landlords in various countries. “We look forward to working with HSH Nordbank again. HSH has demonstrated especially deep expertise in its domestic market for this portfolio,” said Round Hill Capital.
“The buildings of the Alster portfolio stand out due to their attractive location in the sought-after city districts of Eppendorf, Winterhude and Uhlenhorst, close to the Alster lake,” said Peter Axmann, Head of Real Estate at HSH Nordbank. “We have worked with Round Hill Capital on other projects and have got to know them as a well-versed real estate specialist with international operations and outstanding market knowledge, including in such German metropolitan regions as Hamburg.”
The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.
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