Union Investment-ZBI mutual fund buys residential complex in Rastatt
LBBW Immobilien Development has sold the “Hofgarten am Auenwald”, a 5,730 sqm residential complex in Rastatt with 67 apartments and 94 parking spaces, in a forward deal to Erlangen-based ZBI Fondsmanagement. The asset will be placed in the Open Real Estate Public Fund UniImmo: Wohnen ZBI, which was launched jointly by Union Investment and ZBI in July 2017. The complex will consist of four buildings between three and four stories high. It is scheduled for completion in 2021. LBBW Immobilien was advised for the sale by the Frankfurt law firm Hauck-Schuchardt and Ziegert Knight Frank Frankfurt. ZBI was advised on legal matters by P+P Pöllath + Partners.
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