{"id":1004243111,"date":"2018-07-17T00:40:22","date_gmt":"2018-07-17T08:40:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004243111"},"modified":"2022-12-05T21:32:11","modified_gmt":"2022-12-06T05:32:11","slug":"hines-jv-buys-hamburg-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-jv-buys-hamburg-office-campus\/","title":{"rendered":"Hines JV Buys Hamburg Office Campus"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<div id=\"attachment_1004243126\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Olympus-Campus-e1531816728260.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004243126\" data-attachment-id=\"1004243126\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hines-jv-buys-hamburg-office-campus\/olympus-campus\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Olympus-Campus-e1531816728260.jpg\" data-orig-size=\"1772,1328\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Olympus Campus\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Olympus Campus&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Olympus-Campus-e1531816728260.jpg?w=1024\" class=\"wp-image-1004243126 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Olympus-Campus-e1531816728260.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Olympus-Campus-e1531816728260.jpg 1772w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Olympus-Campus-e1531816728260.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Olympus-Campus-e1531816728260.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Olympus-Campus-e1531816728260.jpg?resize=1024,767 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Olympus-Campus-e1531816728260.jpg?resize=1536,1151 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004243126\" class=\"wp-caption-text\">Olympus Campus<\/p><\/div>\n<p>Hines and \u00c4rzteversorgung Westfalen-Lippe have acquired Olympus Campus, an approximately 500,000-square-foot office building being constructed in Hamburg, Germany, from Campus Properties 1, a joint venture between Zech Group and Olympus.<\/p>\n<p>Per terms of the deal, the sellers will maintain responsibility for completing the building. Hines served as the investment manager in the deal and will handle management of the 11-story property.<\/p>\n<p>Designed by Hamburg architecture firm gmp (Gerkan, Marg and Partners), the building will be situated in City S\u00fcd at Heidenkampsweg\/Wendenstrasse.<\/p>\n<p><em>\u201cCity S\u00fcd will be further enhanced and will continue to develop very successfully in the future,\u201d <\/em>Kai-Magnus Schulte, Hines Immobilien GmbH\u2019s director, said in a prepared statement.<em> \u201cThe Olympus Campus will be regarded as one of the most advanced and sustainable buildings in that high-profile location.\u201d<\/em><\/p>\n<p>P\u00f6llath+Partners advised Hines on the acquisition. The joint venture sellers were advised by PwC D\u00fcsseldorf. Transaction support was also provided by CBRE Hamburg.&nbsp;<\/p>\n<h2>Olympus&#8217; EMEA Base<\/h2>\n<p>When finished, the building will be utilized by Olympus, which will occupy nearly 409,000 square feet under a long-term lease. It will serve as the company\u2019s head office for Europe, the Middle East and Africa.&nbsp;Additionally, Design Offices has leased 96,875 square feet in the building.<\/p>\n<p><em>\u201cWith \u00c4rzteversorgung Westfalen-Lippe, we have found a new owner for the property that is making a strategic, long-term investment<\/em>,\u201d Stefan Kaufmann, Olympus Europe\u2019s executive managing director, said.<\/p>\n<p>Olympus Campus is set to boast flexible modern floor plans and be geared toward sustainability. In this regard, it is seeking gold-level certification under the DGNB system. The building, which will also offer 505 parking spaces, is expected to be completed by the end of 2020.<\/p>\n<p>Earlier this month, Hines partnered with funds managed by Oaktree Capital Management on the <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-oaktree-buy-576-ksf-industrial-complex-in-ca\/\">acquisition of Beckman Coulter Campus<\/a>, an approximately 576,200-square-foot property in Brea, Calif.&nbsp;<\/p>\n<p><em>Image courtesy of Hines<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The sellers of the 500,000-square-foot property will maintain responsibility for finishing development. The 11-story building is set to house Olympus&#8217; main EMEA base.<\/p>\n","protected":false},"author":451,"featured_media":1004243126,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,16,21742,21747],"tags":[32789,32797,36147],"class_list":["post-1004243111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-international","category-latest","category-office","tag-cbre","tag-hines","tag-pwc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hines JV Buys Hamburg Office Campus - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hines-jv-buys-hamburg-office-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines JV Buys Hamburg Office Campus\" \/>\n<meta property=\"og:description\" content=\"The sellers of the 500,000-square-foot property will maintain responsibility for finishing development. 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