Hamburg Commercial Bank finances Acquisition of BREEAM certified office property in Belgium

Hambrg, November 22, 2022 - Hamburg Commercial Bank (HCOB) provides EUR 16.5 million to Altaal Group and 1Zone Capital. The joint venture is using the financing to purchase a modern office building in Brussels that has been awarded a BREEAM (Building Research Establishment Environmental Assessment Methodology) certificate for sustainability.

Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank.
Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank - Copyright: HCOB

Constructed in 2009 in the south of the Belgian capital, the complex consists of three wings and comprises almost 18,000 variably divisible square meters as well as 200 underground parking spaces. Around 300 solar panels were installed on the roof of the six-story building, and all floors have interior and exterior facades that benefit from natural light during the day. Employees have access to a garden and a yoga room, showers, lockers, bike racks and a laundry service.

The building is located between two metro stations and has very good highway access. The capital's new hospital (CHIREC) and the main campus of the Université Libre de Bruxelles (ULB) with its research facilities are in the immediate vicinity.

“With this financing, we are further expanding our commitment in neighboring European countries. Having already supported our long-standing client 1Zone Capital on several of their investments, we are delighted with this office project in Belgium and the new business relationship with the Swedish alternative investment firm Altaal,” said Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank. “From a sustainability point of view, this green-certified building fits very well into our portfolio. In addition, the location - in close proximity to the university and the city's largest hospital - as well as the infrastructural connections offer excellent conditions for the further establishment of technology and pharmaceutical companies as well as research institutions.”

"Acquiring a BREEAM-certified building in one of Europe's most attractive leasing markets together with 1Zone Capital, an entrepreneurial partner highly experienced in the BeNeLux countries that we know well, is a perfect fit for our company," said Henrik Schmidt, founder of Altaal. "We have found the experts at Hamburg Commercial Bank to be very savvy and results-oriented in this first collaboration."

"We are pleased to have HCOB as an experienced financing partner on our side for this project," said David Anving, CEO of 1Zone Capital. "We are currently seeing an increasing demand for office space with high sustainable building features, also in Brussels. We want to continue executing our business plan, which is focused on delivering green designed tenant experience."

About Altaal:
Altaal is a Northern European alternative investment company operating through private market platforms built on knowledge and social change. The company focuses on assets with inflation-protected returns combined with positive ESG potential.

About 1Zone Capital:
1Zone Capital is an investment firm based in Frankfurt, Germany with a focus on converting existing properties in to best in class sustainable assets.

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.

This press information can contain forward-looking statements. These statements are based on our beliefs and assumptions, on information currently available to us which we consider reliable. Forward-looking statements include all statements which are not historical facts, including information concerning future growth prospects and future economic developments.

Such forward-looking statements are based on assumptions relating to future events and are subject to uncertainties, risks and other factors, a large number we cannot influence. Thus actual events can differ considerably from the forward-looking statements made. We make no warranty for the correctness or completeness of these statements or the actual occurrence of the statements made. Furthermore, we assume no obligation for updating the forward-looking statements after this information has been published.