Allianz Real Estate Germany has started the year with the purchase of the Brahms Quartier office complex in Hamburg. The sellers are a subsidiary of The Carlyle Group and Aug. Prien Real Estate. The financial details were not disclosed.

BrahmsQuartier was completed in 2009 in a prime location of central Hamburg. It contains about 26,500 m2 of office space as well as some 2,900 m2 used for other purposes, and also parking for around 540 vehicles. Exxon Mobil and the law firm KSP are the main tenants of Brahms Quartier, which is currently 80% let.

'By buying Brahms Quartier, we started the new year after an extraordinarily successful 2010,'declared Stefan Brendgen, CEO of Allianz Real Estate Germany. 'Allianz Real Estate’s new property investments in 2010 totalled about EUR 1.8 bn - more than ever before. And in 2011, we'll be firmly continuing to build up the Allianz real estate portfolio.'

Allianz was advised by Linklaters and CB Richard Ellis, the Carlyle Group and Aug. Prien by Clifford Chance and Grossmann & Berger.