Barings, MassMutual’s affiliated asset manager, has sold an office building in Hamburg for an undisclosed sum to Aviva Investors, which will hold the property on behalf of one of its clients.
The Altes Klöpperhaus was first bought by Barings in 2016 after it was refurbished, and the asset manager increased its occupancy from 87% to 100%. It was one of the first assets acquired for the Barings European core strategy.
Channels:Deals
Deal included a £620m in-specie asset transfer of UK and US corporate bonds and UK gilts
Backs energy, chemicals and resources firm Worley with £75m investment
Bjoern Jesch previously held role as CIO and CEO of DWS Switzerland
While highlighting US dollar currency risk and crystallised losses on bond portfolios
Amidst high take-up in office market in the Scottish capital
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