Commerz Real acquires a 25% stake in the Elbtower for HausInvest
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...