Stuttgart: Barings buys Leo Campus from LBBW
Barings is acquiring the “Leo Business Campus” in Stuttgart on behalf of an institutional investor. The complex, currently under construction, consists of three buildings with a total area of 27,400 sqm. The seller is LBBW Immobilien Development. LBBW’s co-investor during the entire construction project is SV SparkassenVersicherung. Deutsche Telekom will be the anchor tenant with 7,200 sqm; the remaining space is still unlet. The law firm Hauck-Schuchardt was transaction partner for LBBW. Colliers International’s Stuttgart office and DLA Piper advised the buyer for the transaction. “As we continue to grow and diversify our equity platform on the European markets, we seek value-added investments similar to the Stuttgart transaction,” said Christoph Wittkop, Managing Director and Real Estate Country Head Germany at Barings.
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