Berlin-based Capital Bay GmbH has acquired a residential and commercial property in Ahrensburg near Hamburg as a private placement for a pension fund as part of a forward deal. The seller is GFG Hoch-Tief-Bau-GmbH Co. KG from Henstedt-Ulzburg.
Completion of the new four-storey building is scheduled for the third quarter of this year. 56 per cent of the total rental space of around 4,600 m² will be flats, the rest retail space. A well-known local retailer has been secured as the anchor tenant with a long-term lease. The first pre-letting agreements in the residential sector have also been concluded.
Ralph Ziegler, Managing Partner of CB Transaction Management GmbH, says: "With our first forward deal, we are using another channel to secure residential property in German metropolitan regions and fast-growing cities for our clients. This perfectly complements our acquisition strategy, which was previously focussed on existing properties."
Ahrensburg is located just under 30 kilometres north-east of Hamburg city centre. With over 34,400 inhabitants, it is the largest town in the Stormarn district. Ahrensburg has a direct connection to the A1 motorway, is on the railway line between Hamburg and Lübeck and is connected to the Hamburg public transport network by underground.
