PRESS & MEDIA
Berlin, 20th July 2016
GxP Asset Management buys office complex in Hanover
The Berlin-based real estate company GxP Asset Management has acquired an office complex in Hanover. The office property is located on Rotenburger Straße in the Hanover district of Bothfeld-Vahrenheide. “Hanover is one of the most important office markets in Germany,” said Andreas Lewandowski, Managing Director of GxP Asset Management GmbH. According to the 2015 Property Market Report published by Hanover’s Economic Development Agency, the city’s commercial real estate segment boasts more office space than any other German city outside the Big Seven. The number of office workers in Hanover reached 170,000 at the end of 2015 – having risen by almost 14,000 in the five years since 2010.
“With this investment in Hanover, we are pursuing our strategy of investing in commercial real estate in attractive German metropolitan regions and flourishing B-cities,” said Lewandowski. Following a comprehensive and thorough analysis, GxP identifies real estate outside the core segment’s prime locations. The company acquires real estate across a range of risk profiles, optimising leases, enhancing tenant structures and initiating modernisation programmes in order to fully exploit each property’s intrinsic value-add potentials. This conveniently situated office complex, built in 1990, offers almost 11,000 sqm of leasable space.
GxP Asset Management is the new name of the Berlin-based German Asset Management. The recent rebranding represents a further step in the company’s strategic repositioning of its brand, highlighting its investment focus on German (G-erman) commercial properties (P-roperties).
About German Asset Management
German Asset Management (GAM) is an investment and asset management company with a focus on commercial property investments in Germany's metropolitan regions and selected B cities. The company's immediate target is to develop a property portfolio with a combined value in the mid hundreds of millions of euros. GAM acquires properties in the core-plus and value-add segment. Since its founding in 2015, GAM has invested around €150 million in office and retail properties in Germany. These properties are located across the whole of the country, in cities such as Berlin, Dresden, Leipzig, Erfurt and Hannover. German Asset Management's Managing Directors are Rainer Schorr and Andreas Lewandowski. Between them, they have amassed decades of experience in the property investment sector. The company's headquarters are in Berlin.
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