A fund managed by Amundi Real Estate purchases Telekom Campus in Hamburg

Hamburg, 14 March 2016 – Deutsche Telekom will move into the property in autumn of 2016. The French asset manager Amundi Real Estate has purchased the Deutsche Telekom Campus located in the City North district of Hamburg on behalf of one of its fund mandates. Upon completion in 2016, the property at Überseering 2 will be occupied by around 2,000 Deutsche Telekom employees. The owner/developer of the complex until completion is the TAS Group. The firms Kapellmann and Partners and Clifford Chance have supported the transaction. JLL has advised on and IAM Immobilien Asset Management has brokered the transaction. L’Etoile Properties advised the purchaser and will take over the management of the property.

Upon completion, the ownership of the Deutsche Telekom Campus located in Hamburg’s City North district will be transferred to a real estate fund managed by Amundi Real Estate. The newly constructed office building designed by the architect ksp Jürgen Engel Architekten offers a gross floor area of around 44,000 sqm over nine floors. It will be leased entirely by Deutsche Telekom as the single tenant. The Telekom Campus is being constructed on the site of the former BP headquarters in Hamburg.

Marcus Schwarz, TAS-Unternehmensgruppe, commented as follows on the signing of the sale and purchase agreement, ‘The transition of Hamburg’s City North district from a pure office zone to a mixed-use quarter with residential, hotel, retail and office uses is fully under way. The Telekom Campus developed by the TAS Group is both innovative and forward-looking’.

Amundi is one of the leading European asset management companies and one of the Top 10 asset managers globally. With EUR 985 billion assets under management worldwide as at 31st December 2015, Amundi is a globally active company in the real estate and investment sector. Amundi is headquartered in Paris and is represented in 30 countries across five continents.

Deutsche Telekom is one of the world’s leading integrated telecommunications companies with over 156 million mobile phone customers, as well as 29 million land-line and 18 million broadband connections. Deutsche Telekom is represented in over 50 countries and employs a worldwide staff of around 225,200. The company achieved a turnover of EUR 69.2 billion in the business year 2015.

The TAS Group functions as both investor and project developer of commercial real estate with a focus on logistics and city centre offices. The group owns and manages a portfolio comprising properties in Hamburg, Hanover, Düsseldorf and Leipzig. In addition to the Deutsche Telekom Campus, the TAS Group is also developing the new 297 room Holiday Inn hotel in City North, which will provide further impetus to the district.

L’Etoile Properties is an internationally active real estate services provider. The company was founded in 1990 and is headquartered in Paris, and there are now seven further offices in London, Hamburg, Rotterdam, Madrid, Seoul, Singapore and Luxembourg. As the long-term partner, L’Etoile Properties advises international investors over the entire investment lifecycle of a property. Starting with the investment strategy and the procurement and purchase of properties, L’Etoile Properties is a one-stop shop, taking over the ongoing asset, property, facility and corporate management functions.

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