Ashurst advised Warburg-HIH Invest Real Estate GmbH (Warburg-HIH Invest) on the conclusion of a rental agreement with Gruner + Jahr (G + J) for the future headquarters of the publishing house in Hamburg.

The parties have agreed not to disclose any details relating to the rental agreement.

Warburg-HIH Invest has assembled a club of institutional investors to finance G + J’s new publishing house in Hamburg’s HafenCity. The 66,000-sqm office and apartment complex will be completed by 2021 and is located at Am Lohsepark close to the Deichtorhallen. Warburg-HIH Invest will let approximately 40,000 sqm of office space to G + J. In addition to G + J’s headquarters, the development also includes new-build apartments. Warburg-HIH Invest will develop the project via HIH Projektentwicklung. The investment volume for the entire project is estimated to be around €250 million.

Ashurst advised alongside the client's inhouse team led by Dr Stefan Habert with a team headed by real estate partner Dr Liane Muschter. She was assisted by partner Nicolas Deuerling, senior associate Michael Mehler and paralegal Anja Stötzel (alle real estate, Frankfurt).

Ashurst's longstanding client Warburg-HIH Invest is a real estate investment manager serving institutional investors and covering the entire spectrum of national and international real estate investments. Warburg-HIH Invest is one of Germany's leading managers of special AIF for real estate with real estate assets of c. €6 billion under management. Warburg-HIH Invest can demonstrate a comprehensive track record in concept designing and implementing bespoke investment solutions.