Investment Management鈥檚 core pan-European property fund has added a 28,000sqm office property in Hamburg to its portfolio.
The Encore+ fund has bought the newly refurbished Economic Quarter office asset located in Hamburg鈥檚 City South for an undisclosed sum.
David Ironside, fund manager of Encore+, LaSalle Investment Management, said the acquisition of the Economic Quarter fits well within Encore+鈥檚 strategy to acquire asset high-quality properties in major cities in Western Europe.
鈥淗amburg is a new market for Encore+ and one of the top German office markets, providing further diversification within Germany.
鈥漈he high quality of the tenants provides secure income in this asset, in a location with excellent access and in addition the opportunity to capture rental uplift.鈥�
