Values Real Estate buys key mixed-use asset in Hamburg

Values Real Estate has acquired the "Gewerbehaus Ottensen" (Commercial Building Ottensen) at Ottenser Hauptstraße 2-6 in Hamburg, making it the second property in their Values Prime Locations II (Mixed Opportunities) portfolio.

Gewerbehaus Ottensen

This mixed-use complex, which is almost fully leased, offers approximately 11,600 m2 of rental space and 83 parking spaces. It features a diverse and creditworthy tenant mix, including well-known retailers like Müller drugstore, Aldi, Alnatura, New Yorker, and Burger King, and a doctor's office and Regus for office space on its upper floors.
The building benefits from a prime location on a main shopping street corner in Hamburg's Ottensen district. Its close proximity to Altona train station offers excellent connectivity to public, regional, and long-distance transport.
Thilo Wagner, managing partner of Values Real Estate, said: "Our successful fundraising from our investors and this second acquisition for our new prime fund demonstrate that demand for quality properties is rising again and that the market can once again meet this demand. Additional properties are already undergoing exclusive due diligence. We expect further acquisitions this year. We focus on properties in demographically favorable locations. There, we prefer to seek commercial buildings in specific prime locations where we also see potential that we can leverage with our asset and ESG management." 
The Values Prime Locations II (Mixed Opportunities) institutional fund, which now manages over €500 mln in assets, is currently open to new investors. This fund aims for a 50% equity ratio and is classified as an "Article 8 fund" (indicating it promotes environmental or social characteristics). Its investment strategy is concentrated on metropolitan regions throughout Germany.
CBRE acted as the broker for the acquisition. During the purchase process, Values Real Estate received legal advice from Loschelder Rechtsanwälte, technical and ESG guidance from Cushman & Wakefield, and tax consultation from Renzenbrink & Partner.