Hamburgische Immobilien Handlung (HIH) has announced the acquisition of the Portal 10 office building in Munster, northern Germany for a spezialfonds issued by Warburg-Henderson KAG. The property was acquired from Hochtief Project Development for an undisclosed double-digit figure.

Completed in autumn 2010, the asset offers 6,600 m2 of net space and 50 parking spaces and is aiming for a 'Silver' rating under the DGNB sustainability certification. It is mostly let to Kenersys Europe and a major medical practice.

In addition, HIH has bought a 1,700-m2 plot of land in Munich-Schwabing for the development of 35 residential units with 4,300 m2 and 550 m2 of retail space. The investment volume is around EUR 37 mln.

HIH in partnership with brixx projektentwicklung plans to start construction this summer with completion expected by end-2012.