CMS Hasche Sigle: AXA Group again advised on Hamburg construction project

Cologne – AXA Investment Managers Deutschland GmbH has acquired another substantial property in Hamburg’s "Quartier21" development. The insurance group has now bought buildings 1 to 3 on plot 7 of the construction project in the city’s Barmbek district. The development involves building 122 residential units on the extensive site of a former hospital with landscaped surroundings.

AXA was advised on all aspects of the project by a team led by partner Isabel Schreyger. AXA acquired buildings 4 to 7 back in January, when it was also advised by CMS Hasche Sigle.

The former Barmbek General Hospital on Fuhlsbütteler Straße was built in 1913. The grounds cover almost 14 hectares, with the name "Quartier21" being derived from the 21 listed buildings on the site.

AXA plans to build 47 apartments on the 4,300 square metre site, spread across three residential blocks with up to five storeys that comply with the KfW Efficiency House Standard 55 for low-energy houses. There will also be underground parking for 82 cars. Completion is scheduled for the third quarter of 2012.

Advisers CMS Hasche Sigle:
Isabel Schreyger, Lead Partner, Property, Construction and Environment
Simonetta Hahn, Property, Construction and Environment