Starwood Capital Group buys Hamburg office portfolio

An affiliate of Starwood Capital Group and its joint venture partner CELLS Property Investors have acquired the Diamant2 office portfolio in Hamburg. The terms of the transaction were not disclosed. The portfolio includes two office buildings, Kieler Park and Sachsenkamp 5, with a combined total area of 22,800 sqm. The properties are leased to various tenants. The transaction is Starwood Capital Group's second investment in Europe. JLL, GSK Stockmann, PwC, and Drees & Sommer acted as advisers to Starwood Capital Group and CELLS Property Investors. Senior bank financing was provided by Deutsche Pfandbriefbank.


Illustrative photo source: Starwood Capital