Augsburg: GEG buys “Helio”
GEG German Estate Group has acquired the “Helio” (formerly Fuggerstadt Center) near Augsburg’s main station. It is said in market circles that the investment volume is around €100mn to €110mn. The four connected building sections plus an underground garage with about 600 parking spaces were bought in an off-market transaction from a property company of ActivumSG. The complex has 36,000 sqm lettable space and was refurbished over the past three years. Jebens Mensching (legal and tax) and CBRE (technical) advised the buyer; Greenberg Traurig (legal) and Noerr (tax) supported the seller. BNP Paribas brokered the transaction.
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