Morgan Stanley Real Estate Funds (MSREF) has bought two office buildings in Hamburg, Germany for around €670m (£442m) from German property investor Dieter Becken.
The US investment bank, one of the world’s most active property fund managers, has bought the 322,920 sq ft (30,000 sq m) Berliner Bogen and the Deichtorcentre office centre in central Hamburg.
The deals pushes MSREF’s investment in German offices over the €2bn (£1.3bn) mark following its large deal last October when it bought three office portfolios for nearly 1bn (£670m) from BHF Berliner Handels-und Frankfurter Bank, Commerzbank’s open-ended fund, CGI, and AXA. MSREF has been investing in Germany for the last five years.
Becken is a well-known property investor and developer in Germany who is also involved in various large-scale projects in Sudan, north Africa, including a €3bn (£1.98bn) 4,200 km railway project that will link Sudan to Kenya and Uganda.