TD News International Location: Stuttgart

Frasers takes over new logistics building near Stuttgart from new subsidiary

01/10/2018 Frasers Property Europe has acquired the logistics property built by Alpha Industrial for Bosch in Tamm near Stuttgart. The developer, who has been part of Frasers since July, reports having invested €60mn in the 40,000 sqm structure. It was completed this spring on a lot on Bissinger Straße / Hölderlinstraße formerly used by Edeka and [...]

Stuttgart: Momeni buys commercial property from La Française and Aberdeen

03/09/2018 Momeni has acquired the office and commercial building “Haus Hugendubel” on Breite Straße in Stuttgart. The seller is the Pan European Urban Retail Fund (PURetail) managed by Aberdeen and La Française. The purchase was made for the Spezial-AIF Momeni Prime Opportunities Fund I launched by Momeni. The buyer was advised legally by the Berlin office [...]

Stuttgart: Bauwerk buys and builds 5,400 sqm in Europaviertel

03/09/2018 Munich-based Bauwerk Capital has acquired a project site in Stuttgart’s Europaviertel on which it intends to create residential and commercial properties. The site is located at Wolframstrasse 16 near Pariser Platz and the Milaneo shopping center, and has 5,393 sqm. The developer UBM previously held 47% of shares in the project, and sold this stake [...]

LBBW increases new business to €3.7bn

30/08/2018 New business at LBBW is booming: Baden-Württembergische Landesbank issued commercial real estate loans for €3.7bn in the first half of the year. That’s just somewhat over the €3.4bn in new business generated by the Stuttgart-based bank in the 1st half of 2017. Earnings before taxes in this segment meanwhile fell from €133mn to €104mn. According [...]

Stuttgart: Commerz Real buys Allianz complex on Uhlandstraße

06/08/2018 Commerz Real has acquired a building complex on Uhlandstraße 2 in the center of Stuttgart for its open-ended real estate fund Hausinvest. As TD learned, the seller of the property, which is completely leased to insurer Allianz, is Officefirst, who has managed the asset for a Blackstone fund. The purchase price is said to be [...]

Domicil acquires residential package in greater Stuttgart area for €50mn

24/07/2018 LC Liegenschaft Consulting has sold the so-called Solitude portfolio to Domicil Real estate of Munich in an asset deal. The ten mostly residentially used properties are located in Stuttgart, Leonberg, Reutlingen, and Calw, and together cost roughly €50mn. They include 145 residential and eleven commercial units, and 129 parking spaces. The structures were built between [...]

Stuttgart: Karstadt Sports moving to upper Königstraße

19/07/2018 Karstadt Sports is moving to another prime Königstraße location in Stuttgart. The company is moving from Königstraße 1C, located at the Schlossgarten, to the former Karstadt building at Königstraße 27-29 . The newspaper “Stuttgarter Zeitung” has confirmed information given to TD that the company’s new landlord will be Union Investment. Karstadt Sports will occupy 3,651 [...]

Stuttgart: Investment volume headed for a record

10/07/2018 The Stuttgart investment market has had a strong first half-year. According to figures by Colliers International and E&G Real Estate, the transaction volume of €875mn for the first six months is significantly higher than the previous year’s figure of €730mn. JLL calculates a total of €880mn and calls it the best first half-year of the [...]

Stuttgart: Union Investment buys two STEP buildings

03/07/2018 Union Investment has acquired two buildings in the Stuttgart Engineering Park (STEP) for €30mn. “STEP 4”, completed in 2002, has over 7,000 sqm of lettable space and has retail, food service and fitness facilities. The recently-completed 8,000-sqm “STEP 8.3” is a six-floor office building. The purchase was made on behalf of the Austrian real estate [...]

Stuttgart: Niu Hotel Tower on Pragsattel

20/06/2018 Merkur Development, Avonia Real Estate, and Oswa Planen und Bauen have received the building permit for their joint office and hotel project on Leitzstraße 50-52 on Stuttgart’s Pragsattel. The ten-story hotel tower with 182 double rooms will be operated by Novum Hospitality under the name “niu Form”. The office spaces will be located in a [...]