Hamburg Trust acquired Fleet Office 1 in Hamburg’s City-Süd district from Becken Holding. The property offers 9,300 sqm of space and 122 underground parking spots at the corner of Heidenkampsweg and Sachsenstrasse. The project, scheduled for completion in the third quarter, is almost entirely leased to VBG, a statutory accident insurer. Becken Holding is planning to start construction of Fleet Office 2 in the near-term, with completion set for fall 2016. HSH Nordbank will finance the second phase of the project with a €42m loan.
