Stuttgart: Albplatz Forum goes to Momeni
Momeni has acquired the “Albplatz Forum” in Stuttgart from a special purpose company managed by J.P. Morgan Asset Management. The purchase was for one of Momeni’s institutional special assets. According to market insiders, the purchase price was €90mn. The closing is anticipated for February 2019. Momeni was legally advised on the transaction by P+P Pöllath + Partners. Hengeler Mueller supported J.P. Morgan. Colliers International in Stuttgart brokered the deal. The property on Albstraße 14/Schöttlestraße 6–10 has 25,000 sqm GFA and 860 parking spaces. The complex is currently leased to CMS Hasche Sigle, Werner Sobek Group, and the advertising agency Schmittgall. Momeni has stated they intend to modernize, reposition, and relet the property in the medium term.
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