Advenis Germany, as Real Estate Management Partner, accompanied the sale of a former Lufthansa building at Schützenwall 1 in Norderstedt. The acquirer is the City of Norderstedt. The property is an office building belonging to SCI New Invest 5 and was assigned to the Eurovalys real estate fund initiated by Advenis REIM. The transaction includes a land parcel with the main building and parking spaces, as well as an additional plot of land providing further parking areas.
The property, built in 1990, comprises six storeys and was previously used as an office and administrative building. Former tenants included two companies belonging to the Lufthansa Group. The comprehensive structure of the subject of sale emphasises the importance of an integrated consideration of both the building substance and the associated infrastructure, such as the parking spaces.
Consultancy and Process Management
The seller was advised as part of a marketing mandate by BNP Paribas Real Estate's Investor & Asset Advisory team. This involvement underlines the necessity of specialised expertise in complex real estate transactions. The sales process required detailed knowledge of the local market as well as the ability to coordinate diverse interests.
Eva Welzenbach, Managing Director of Advenis Germany, commented on the significance of the transaction. She highlighted that sound property knowledge, professional property management, and an integrated interplay of investment and asset management are crucial in the current market situation. The sale demonstrates that successful transactions can be achieved even under varying market conditions, provided that the property, location perspective, and utilisation concept are convincingly brought together. This illustrates the relevance of strategic positioning and detailed analysis in the real estate market.
Expertise in the Existing Stock Segment
With this sale, Advenis Germany confirms its expertise in the professional accompaniment of existing properties and the execution of transaction processes in the German real estate market. The successful completion in Norderstedt illustrates the ability to effectively implement complex sales mandates in a dynamic environment while considering the interests of all parties involved. The outcome is a strategic acquisition for the City of Norderstedt. Details regarding the purchase price have not been publicly disclosed.
