Norton Rose Fulbright advises Savills IM on sale of VTG Center office property in Hamburg to ABG Capital

Global law firm Norton Rose Fulbright has advised the real estate investment manager Savills Investment Management (Savills IM) on the sale of the VTG Center office property in Hamburg to ABG Capital and several pension funds.

The VTG Center office building in Hamburg's Hammerbrook district was completed in 1996 and comprises approximately 22,000 square meters of leasable space on eight levels. It is divided into four large building units with 300 parking spaces, of which around 290 are in underground garages. The multi-tenant office property is leased on a long-term basis to well-known companies in the education, consulting, social services and engineering sectors. 

Savills IM, based in Frankfurt am Main, is an internationally active real estate investment manager and is an independent subsidiary of the Savills Group. The company with € 24.8 billion assets under management has 17 offices in 13 countries and employs more than 340 people, mainly in Europe and Asia. 

Frankfurt-based ABG Capital, the investment manager ofABG Real Estate Group together with a number of professional pension funds, acquired the VTG Center for around €100 million. 

The Hamburg-based Norton Rose Fulbright team was led by partner Dr. Stefan Feuerriegel and also included counsel Sven-Christoph Riepke (real estate, corporate M&A),  Dr. Felix Dinger (real estate, energy) and associate Phil Jung Kim (real estate, corporate M&A).