DLA Piper advises Aviva Investors on acquisition of “Altes Klöpperhaus” building in Hamburg from Barings

DLA Piper has advised Aviva Investors, the global asset management business of British insurance company Aviva plc, on the acquisition of the “Altes Klöpperhaus” office building in Hamburg, on behalf of one of its clients, from global real estate investment manager Barings.

“Altes Klöpperhaus” offers 8,370 sqm of flexible office space and high-quality lettable premises. Originally built in 1902, the property was fully modernised and refurbished in 2016 and, thanks to its listed facade and inner staircases of the early 1900s, is one of Hamburg’s landmark buildings.

Located at Rödingsmarkt 9 in Hamburg’s central business district in front of the metro station Rödingsmarkt, the property benefits from excellent connection to public transportation. The pleasant canals area and the premium shopping street Neuer Wall are within walking distance, as are the City Hall and the Alster.

Hamburg was identified by Aviva Investors as a top European city for long-term rental growth prospects, as part of its research into the most promising office markets and tech hubs across the region.

Aviva Investors is the global asset management business of Aviva plc. It operates in 14 countries across Asia Pacific, Europe, North America and the United Kingdom and had GBP366 billion in assets under management as of 31 December 2020.

The DLA Piper team, led by partner Fabian Mühlen (Real Estate), included partner Dr Marie-Theres Rämer (Tax, both Frankfurt), senior associate Moritz Mursa as well as associates Vanessa Brückner (both Cologne), Dr Philipp Reclam (Frankfurt, all Real Estate), Eda Altintas and Anastasia Max (both Tax, Frankfurt).