News/Real Estate Finance

Deutsche Hypo and Haspa finance purchase for MAGNA project in Hamburg

Deutsche Hypothekenbank and Hamburger Sparkasse (Haspa) are financing the purchase of the Postbank headquarters in Hamburg’s City-Nord district for MAGNA Real Estate AG. The office property is to be newly developed as part of a EUR 350 million project.

The financing object is the Postbank area at Überseering in Hamburg’s City-Nord with a rental space of around 46,000 square meters. The property has eight floors and 585 parking slots. Postbank is expected to be the tenant of the office space until 2021. Subsequently, the building is to undergo a project development. Several new buildings are planned. In addition to offices, further commercial and residential space is also to be created.

“City-Nord is currently one of the most interesting locations in Hamburg, where a number of major projects are being carried out to convert real estate into mixed residential and retail quarters,” explains Sabine Barthauer, Member of the Board of Managing Directors of Deutsche Hypo. “We are delighted to be able to support MAGNA Real Estate AG, a fast-growing Hamburg based developer of residential and commercial real estate, in this financing project”.

“The project is currently one of the most important construction projects in Hamburg. This is one of the reasons why Ü26 naturally has a very special significance for us. All the more reason for us to be pleased that we have been able to win over Deutsche Hypo and Haspa, two of the leading real estate lenders from Northern Germany, for the purchase of the Postbank headquarters,” says Jörn Reinecke, CEO of MAGNA Real Estate AG.

 

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Deutsche Hypothekenbank (Actien-Gesellschaft) is a Pfandbriefbank specialising in the financing of commercial real estate. It is a member company of the NORD/LB Group in which it forms the centre of competence for the core business field of Commercial Real Estate Financing. Founded in 1872, Deutsche Hypo operates in Germany, the United Kingdom, France, the Benelux countries, Spain and Poland. The Bank has its headquarters in Hanover, with locations in Berlin, Dusseldorf, Hamburg, Frankfurt and Munich, as well as in Amsterdam, London, Madrid, Paris and Warsaw. With around 400 employees and total assets of € 21.3 billion, Deutsche Hypo is among the major German real estate financing institutes. Further information on Deutsche Hypo can be found at www.deutsche-hypo.de.

Contact:
Carsten Dickhut, Head of Communications and Board Staff
Phone: +49 511 3045-580, E-Mail: carsten.dickhut@nulldeutsche-hypo.de

 

Hamburger Sparkasse AG (Haspa) is the leading bank for private customers and small-to-medium entrepreneurs in Hamburg and the No.1 bank for real estate funding in the Hamburg metropolitan area. With a balance sheet total of more than Euro 43 billion and 5,000 employees our services and consultations are available at 130 branches. In total Haspa serves about 1.5 million clients.
https://www.haspa.de/en/offers-and-services/

Contact:

Marcus-Andree.Schoene (Haspa Corporate Communications)
Phone: +49 40 3579-3626, E-Mail: marcus-andree.schoene@nullhaspa.de

 

Since it was established in 2016 MAGNA Real Estate AG from Hamburg specialises in the development of residential and commercial property. The fast-growing project developer realises real estate projects with a volume of more than one billion Euros. In addition to its core business of risk-optimised project development in prime locations in Germany and Austria, MAGNA offers a wide range of asset management services. This positioning makes MAGNA the ideal partner for institutional investors.

Contact:

Sascha Lindemann (BEiL2 for MAGNA)
Phone: +49 40 882153227, E-Mail: sascha.lindemann@nullbeilquadrat.de