22 September 2015

Zurich buys Hamburg office complex

The Berliner Tor Centre in HamburgZurich Group Germany has bought the Berliner Tor Centre (BTC) office complex of about 80,000 sq m from a Morgan Stanley investment fund for a reported €270m ($300m).

It is said to be the biggest single investment deal in the Hamburg real estate market.

The Berliner Tor Centre is in the St. Georg business district and includes three 23-storey, 90-metre high buildings. It is 88% leased to companies such as Siemens, IBM and Colgate Palmolive.