PIMCO Prime Real Estate takes delivery of EDGE HafenCity prime office asset from developer Edge

Munich, 11.06.2024

PIMCO Prime Real Estate, a leading global real estate investor and manager of the Allianz Group’s $93B+ real estate mandate, has taken delivery of the prime EDGE HafenCity development in Hamburg from real estate developer Edge.

Image: Christian Kruppa

Image: Christian Kruppa

Designed by HENN Architects, EDGE HafenCity offers c. 22,500 sqm of highly efficient, flexible and modern office space. With a strong focus on sustainability and tenant wellbeing, the building has already been pre-certified WELL Core in Platinum and also been awarded the HafenCity Ecolabel in Platinum.

The 15-story EDGE HafenCity is architecturally distinguished by an eight-meter cantilevered tower and deep arcades that lead onto the Amerigo-Vespucci-Platz. The design incorporates the natural landscape of the surrounding area into the tiered levels of the building while three large rooftop terraces offer unique views of the city.

Built around a sophisticated IoT-capable communication infrastructure, the building makes the most of green energy sources such as photovoltaics and industrial waste heat. Use of environmentally friendly commuting is encouraged through its proximity to public transport, extensive electric car parking spots, and a large indoor area for bicycles. 

Together with the EDGE ElbSide building, EDGE HafenCity forms the gateway to the attractive Elbbrücken quarter. Current tenants include the law firm Fieldfisher, Fieldfisher X, the environmental company Veolia and EDGE Workspaces. 

PIMCO Prime Real Estate has selected Edge as a partner across a number of assets, including EDGE East Side Berlin and for the transformation of the EDGE Stadium building in Amsterdam into a highly efficient, sustainable and technology-led prime office asset, highlighting the firm’s active asset management approach to create value for its investors.

In March 2022, the two firms announced the development of a series of office assets in Germany’s top four cities on behalf of several insurance companies of the Allianz Group, one of the world’s leading insurers and asset managers, and Bayerische Versorgungskammer, the largest public-law pension group in Germany. The aim of this program is to build a portfolio with the highest standards for building quality, and a strong focus on sustainability and user well-being, in line with Allianz’s targets to reduce carbon emission across its global real estate portfolio. The first asset “EDGE Friedrichspark” in Berlin, Mediaspree is currently under construction.

Nicole Pötsch, Head of North & Central Europe and Co-Head of Investments Europe at PIMCO Prime Real Estate

Nicole Pötsch, Head of North & Central Europe and Co-Head of Investments Europe at PIMCO Prime Real Estate

Nicole Pötsch, Head of North & Central Europe and Co-Head of Investments Europe at PIMCO Prime Real Estate, said, "EDGE HafenCity fulfils a clear need for prime office assets in the attractive Elbbrücken quarter, and is a very strong addition to our German portfolio. It fully supports PIMCO Prime Real Estate’s focus on developing prominent, sustainability-led buildings which deliver long-term value for our institutional investors as well as tenants, local communities and other key stakeholders.”

Andreas Muschter FRICS, CEO of Edge DACH, observes, "Hamburg's HafenCity is based on a fantastic urban development concept that provides a great location and atmosphere for our smart and sustainability buildings to come to life. As demand for modern and flexible design enhancing productivity remains high, EDGE HafenCity will become a real hub for innovation. I am very pleased to see Edge contributing to the positive success of HafenCity with not one, but two projects."



About PIMCO Prime Real Estate

A leading global real estate investor and manager, PIMCO Prime Real Estate is a PIMCO company and part of the PIMCO real estate platform, focusing on the Core and Core+ segments of the market and managing the Allianz Group’s c. $93B real estate mandate.

Formerly known as Allianz Real Estate, we manage a global investment portfolio of c. $97B AUM, with an international team of c. 500 employees working in 16 offices in Belgium, China, France, Germany, Italy, Japan, Singapore, Spain, Sweden, the UK and the U.S.

PIMCO’s real estate platform is one of the largest and most diversified in the world, with c. $190B1 in assets and a broad set of solutions that leverage decades of expertise across public and private equity and debt markets.

Footnote

As of March 2024. All figures in USD. 1AUM includes c. $97B in estimated gross assets managed by PIMCO Prime Real Estate (formerly Allianz Real Estate), which includes PIMCO Prime Real Estate GmbH, PIMCO Prime Real Estate LLC, and their subsidiaries and affiliates. PIMCO Prime Real Estate LLC is a wholly-owned subsidiary of Pacific Investment Management Company LLC, and PIMCO Prime Real Estate GmbH and its affiliates are wholly-owned by PIMCO Europe GmbH. PIMCO Prime Real Estate LLC investment professionals provide investment management and other services as dual personnel through Pacific Investment Management Company LLC. PIMCO Prime Real Estate GmbH operates separately from PIMCO.

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Paula Eirich
Paula Eirich
Head of External Communications