HIH Hamburgische Immobilien Hdlg has sold Pergamon Palais to Union Investment Real Estate

HIH Hamburgische Immobilien Handlung GmbH, based in Germany, has sold a 100% stake in Pergamon Palais to Union Investment Real Estate. Financial details have not bendisclosed.

Pergamon Palais is a striking office and residential project in the heart of Berlin, next to the Pergamon Museum. The property was build in 2011 and provides 5,213 sqm office space and 1,019 sqm residential area.

Union Investment Real Estate GmbH is one of Europe's leading property Investment management companies. The firm combines over 45 years of asset management with capital market expertise within the dynamic Union Investment Group. Union's portfolio comprises some 319 prime properties in outstanding locations in the world´s major cities.

HIH is a company within the Warburg network. The private bank M.M.Warburg & CO KGaA, which is the centre point of the Warburg network, was founded in the year 1798. As a real estate investment and service group, HIH concentrates on the business areas of property management, project development and investment products for national and international, private and institutional investors.

Oaklins' team in Germany advised the seller on the whole transaction process.