Commerz Real has acquired a 25% stake in the Elbtower high-rise development by SIGNA Real Estate in Hamburg's HafenCity district for its open-ended real estate fund Hausinvest. Construction of the mixed-use high-rise building at Elbbrücken, designed by David Chipperfield Architects, is scheduled to start in early 2023 and to be completed by the end of 2025. The pit is currently being excavated. Three years before completion, the pre-letting rate is already over 40% (the rate for the office space is over 30%, and a hotel operator has also been confirmed: international lifestyle brand Nobu Hospitality).
With this participation, the companies are expanding their strategic cooperation: Since 2019, Commerz Real has already invested 20% in ten Galeria department store properties owned by SIGNA.
Source: commerzreal.com on the 18th of August 2022
https://www.commerzreal.com/en/press-release/press-release/commerz-real-acquires-a-25-stake-in-the-elbtower-for-hausinvest/