Captiva GmbH is the new partner of AUG. PRIEN Immobilien for the district Klosterwall.

The project developer AUG. PRIEN Immobilien alienated shares of the project Johann Kontor located in the business area to the Hamburg based Asset- and Investmentmanager Captiva. The sale ensued in relation to a Joint Venture Agreement. It has been agreed on to observe silence with regard to the purchase price.

Until the district will be completed Aug. Prien will keep the majority of shares and too will hold 50% of the shares beyond completion of the project. Captiva will take over the management of the asset after its completion.

The project development is financed by two companies located in the hanseatic city: Hamburger Sparkasse AG and HanseMerkur Krankenversicherung AG, who provides the mezzanine loan. Perspectaivaly it is planned and already rueld in the respective Option Agreement that HanseMerkur will take over the asset in a long term.

About the Johann Kontor:

With the Johann Kontor a new building is developed on Klosterwall which interprets the architectural characteristics of a classic Hamburger counting house in a modern way and therefore assimilates as city module into the historic counting house quarter. The Johann Kontor will combine working space, living, social gathering and cultural offerings. The project splits in to three areas. The northern part of the building will consist a four star hotel by the Accor group containing 227 rooms. The median of the building will not only contain a Kindergarden but also space for cultural use and retail trade as well as approx. 145 rental flats with apporx. 8,000 sqm of which one third will be benefited living space. The southern part of the building will contain approx. 17,500 sqm of office and gastrnomy space. The completion is planned end of 2023/ beginning 2024.