Morgan Stanley and Prelios have sold Harburg Carree to Erste Group Bank AG

Morgan Stanley and Prelios Immobilien Management GmbH have sold the Harburg Carree building complex to Erste Group Bank AG for an undisclosed consideration.

Harburg Carree is a multi-storey building complex located in the centre of Harburg. With a total area of 23,256 sqm, the property provides shops, offices and apartments, as well as 512 parking lots.

Erste Group Bank was founded in 1819 as the first Austrian savings bank. The group has around 46,000 employees and over 16 million clients in 2,800 branches in 7 countries. Erste Group is one of the largest financial services providers in Central and Eastern Europe.

Established in 1935, Morgan Stanley is a American multinational financial services corporation headquartered in Midtown Manhattan, New York City. Morgan Stanley operates in 42 countries and has more than 1,300 offices and 60,000 employees. The main areas of business are global wealth management, institutional securities and investment management.

Prelios Immobilien Management is based in Hamburg and acts as a full service property manager for institutional and private German and international investors.

Oaklins’ team in Germany advised the seller in this transaction.