NYC-based Morgan Stanley has sold the office building VTG-Center, located in Hamburg, to Cordea Savills Invest GmbH. Financial details have not been disclosed.
VTG-Center is an office building located in the City Süd in Hamburg. It was built in 1996 and has a total area of 22,789 m². The building is a prominent eye-catcher and has won several architectural awards. Main tenants are VTG Deutschland GmbH, Vodafone D2 GmbH and EHA Energie-Handelsgesellschaft mbH & Co. KG.
Cordea Savills Invest GmbH is the investment management business of the Savills Group and has provided investment services for over 25 years. These services comprise separate accounts and investment mandates on an advisory or discretionary basis, and the establishment and management of pooled property funds. Cordea Savills has an experienced team located in 11 offices across Europe and Asia and is regulated in five European jurisdictions, allowing it to set up investment vehicles for a diverse investor base.
Established in 1935, Morgan Stanley is an 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.
Oaklins' team in Germany advised the seller on the whole transaction process.
Dr. Jens Noritz
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