Clifford Chance has advised the French asset manager Amundi Real Estate and L´Etoile Properties, on the purchase of the Allianz headquarters in Hamburg.

The property will henceforth be owned by a real estate fund managed by Amundi Real Estate, a subsidiary of Amundi Group Real Estate. The ten-storey complex, located in the "City Nord" area of Hamburg, has a total floor area of around 59,800 square metres. It is being sold by the project developer, TAS, which refurbished the building on behalf of Allianz between 2010 and 2012. The complex had originally been built for Esso between 1966 and 1968 on the basis of the plans drawn up by the Hamburg architects Jost Schramm and Gert Pempelfort. Allianz leases around 42,000 square metres for its 1,700 employees. The other lessee is the Villa Luna daycare centre. L'Etoile Properties will act as property manager.

Amundi had acquired the neighbouring "Telekom Campus" property, also developed by TAS, in March 2016. A Clifford Chance team led by Dr. Gerold Jaeger also advised on that transaction.

The Clifford Chance team was led by partner Dr. Gerold Jaeger and comprised senior associate Dr. Sebastian Schmitt (both Real Estate, Frankfurt), partner Dr. Uwe Schimmelschmidt (Tax, Frankfurt), counsels Dr. Dominik Thomer and Cord Freiherr von Mandelsloh, associate Dr. Philipp Weiten (all Tax, Düsseldorf), as well as partner Marc Besen (Brussels/Düsseldorf), senior associate Dr. Dimitri Slobodenjuk and associate Anne Filzmoser (both Düsseldorf, all Antitrust).