Deutsche Hypothekenbank is financing the Phoenixhof retail park in Hamburg for the Essen-Gruppe. The total financing volume amounts to EUR 44 million.
“Thanks to its blend of different architectural styles consisting of historical factory buildings and contemporary structures, Phoenixhof is highly recognisable,” commented Andreas Pohl, Chairman of the Board of Managing Directors of Deutsche Hypo. “We are delighted that we are able to finance this attractive complex for the Essen-Gruppe, a company that has been successfully operating on the Hamburg real estate market for many years.
The Phoenixhof complex is located in the Ottensen district of Hamburg and comprises office space, mixed-use properties that accommodate offices, retail space, bars and restaurants and a TV studio. In addition to the portfolio financing, two other office buildings are to be built on the site as part of a project development programme. The expansion of the complex has resulted in an almost 6,000 square metre increase in rentable space to a total of 20,275 square metres. The retail park is highly popular with tenants from the creative sector and innovative consulting companies, especially.
The distinctive new Landmark 7 building was recently completed and has already been handed over to the main tenants. The property’s main tenant is knowledge management specialist SABIO GmbH, a long-standing tenant of the Phoenixhof site. “Renting the space in Landmark 7 is a logical step in a particularly constructive and close relationship with the lessor that is based on a high level of trust,” commented SABIO managing director, Alexander Holtappels. “The result fulfils all our expectations – and we are thrilled with our new location.” In addition to SABIO, digital experts DIGITAL MASTERS will be moving into the sixth floor of Landmark 7 in November.
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, Spain, the Benelux countries and Poland. The Bank has its headquarters in Hanover, with locations in Berlin, Düsseldorf, Hamburg, Frankfurt and Munich, as well as in Amsterdam, London, Paris and Warsaw. With around 400 employees and total assets of € 24.4 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.
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Upholding traditions, understanding the present, shaping the future
Baubetreuung Essen KG (GmbH & Co.) is part of the Essen-Gruppe and offers an extensive range of services relating to real estate management. Jörg Rainer and Kay Wolfgang Essen are members of the third generation who now manage the company. Baubetreuung Essen has been an owner-run family business and a skilled partner in realising residential construction projects, retail centres and office buildings since 1965.
Its portfolio comprises more than 3,000 residential units, primarily in the larger Hamburg area. Some of the challenges the company has been successfully tackling over the past number of years include re-inhabiting and revitalising existing properties on the company’s own land. As a contemporary service provider, Baubetreuung Essen also assumes the management of real estate portfolios for external clients in addition to providing services for the family’s own companies. As a special purpose vehicle, Wolfgang Essen KG is the owner of new construction projects “Fernsehmacher-Studios” and “Landmark 7”, which was recently developed on the Phoenixhof complex and has been handed over to the main tenants. Further information on Essen-Gruppe can be found at www.essen-gruppe.de.