Ashurst advised Triuva Kapitalverwaltungsgesellschaft mbH (Triuva), a company of Patrizia Immobilien AG, on the acquisition of the core property K1 on behalf of an institutional investor. K1 was sold by CBRE Global Investors.

Built in 2008, K1 with the address Am Kaiserkai 1 is a modern, eight-storey office and commercial building with about 10,000 square meters of rental space. On the ground floor there are catering and retail areas. Ten tenants are currently located in the immediate vicinity of the Marco Polo Terraces and within walking distance of the Elbphilharmonie. Hamburg's HafenCity is currently the largest inner-city urban development project in Europe.

Within eight weeks, the transaction went from exclusivity to closing.

The Ashurst team was led by partner Dr Liane Muschter She was assisted by associate Daniela Kowalsky and Sven Nickel as well as by paralegals Anja Stötzel and Oliver Lamberti (all real estate). Partner Dr Martin Bünning and associate Carina Park advised on tax aspects (all Frankfurt).

Ashurst's longstanding client Triuva is a leading provider and manager of structured real estate products for institutional investors in Germany with assets under management of around €9.7 billion.