Noerr advises Real I.S. on purchase of two landmark buildings in Hamburg’s HafenCity

Noerr has advised Real I.S. on the purchase of two landmark buildings of the new development “Intelligent Quarters” in Hamburg’s HafenCity. Developer and seller are the project partners ECE and Strabag Real Estate. The parties agreed not to disclose the purchase price.

The two buildings “Watermark” and “Shipyard”, located directly on the Elbe River and designed by the award-winning architects Störmer Murphy and Partners, were completed this past summer. The office tower Watermark was acquired for Real I.S. Themenfonds Deutschland I and the object Shipyard for BGV VII Europa. The two properties count in together total more than 21,500 m² lettable area. The “Intelligent Quarters” in Hamburg is among the largest projects of STRABAG Real Estate’s current portfolio in Germany, inter alia MesseCity Köln, FLARE in Frankfurt and NEW OFFICE Düsseldorf. The object “Watermark” has 14,500 m² of office and commercial area on 18 floors and towers over the entire HafenCity with its height of 70 metres. The rooftop terrace provides not only a view of the neighbouring “Shipyard”, with its 7,000 m² of office and commercial area on seven floors, but also an exceptional panorama that includes the Elbe, the harbour, HafenCity, Hamburg’s old town and the Elbphilharmonie.

Advisors to Real I.S.: Noerr LLP, Annette Pospich (REIG Munich, Lead), Dr Martin Haisch (Investments, Frankfurt), Dr Peter Bachmann (REIG/Regulatory, Munich), Dr Florian-Felix Marquardt (Tax, Berlin), Volker Bock (REIG, Dresden), Birgit Gansel (REIG, Munich), Janina Diesem (REIG, Düsseldorf), Henrik Schlutt (REIG/Regulatory, Dresden)