“KHW105” for “Kronshagener Weg Nr. 105” is the unobtrusive name of an extensive office property in the Schreventeich district of Kiel. The district, located west of the city centre, has dense residential development, but also commercial and office buildings. The property KHW105 has now changed hands. The buyer is the Hamburg-based Warburg-HIH Invest Real Estate GmbH. This article is based on the unique List of the 400 largest German real estate investors in Germany.
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State tenant guarantees secure and lasting income
The five-storey building on Kronshagener Weg in Schreventeich forms a striking complex whose red clinker brick façade is reminiscent of typical North German brick construction. The building offers 22,500 square meters of rental space. Most of it is leased long-term to the Bundesanstalt für Immobilienaufgaben – a tenant of undoubtedly first-class creditworthiness that guarantees stable income over the long term. Two other buildings with state use are located in the immediate vicinity. The property was previously owned by the HBB Group. HBB Hanseatische Betreuungs- und Beteiligungsgesellschaft is a family-managed project developer that has been in existence since 1970. Nothing was published about the purchase price.
Warburg-HIH Invest Real Estate GmbH is a subsidiary of the Hamburg-based banking house M.M.Warburg & CO, a private bank that has existed since 1798 – today the largest owner-managed private bank in Germany. Warburg-HIH focuses on national and international real estate investments and manages real estate assets of around 5.7 billion euros. The company has launched several dozen real estate funds – with a total of around EUR 6.7 billion in assets under management. The KHW105 investment was made for the Norddeutsche Versorgungswerke real estate fund – a special fund that
is aimed at five professional care institutions and invests specifically in office and retail space, but also in operator properties in northern Germany.
Picture source: Unsplash