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Peakside and Partners sell Hamburg Omega asset

Peakside Capital Advisors and Partners Group have sold a 9,000 sq m office and commercial building in Hamburg to May & Co.

The property, Spaldingstrasse 77-79 in the City-Süd district, was part of the so-called Omega portfolio, which Peakside and Partners Group acquired a year ago for over €550 million, and which included 30 office and logistics properties in Germany, France and the Netherlands.

The buyer is considering redeveloping the property. May & Co managing director Maximilian May said, “City-Süd is the most popular office location in Hamburg after the city. In recent years, numerous project developments in the commercial and residential segments have further increased the attractiveness of the location. We want to follow this positive trend.”

The off-market deal will take place as a sale of shares, however, the price achieved has not been disclosed.