DLA Piper has advised LBBW Immobilien Group on the acquisition of the office and commercial property, THEO 10, in Stuttgart, Germany. LBBW Immobilien acquired the property by way of an asset deal for the special fund Germany Diversified Core+, which is managed by LBBW Immobilien Investment Management GmbH. The seller is a DWS real estate fund. The parties have agreed not to disclose the transaction volume.
The THEO 10 property was constructed in 2011 on an area of approx. 580 sqm and comprises a rental space of around 2,700 sqm in a prime office location. It is almost fully let and is characterized by small-scale leasing and a broadly diversified tenant structure.
The Germany Diversified Core+ fund invests specifically in modern office and commercial buildings in prime locations. It is managed by HANSAINVEST Hanseatische Investment-GmbH on behalf of LBBW Immobilien Investment Management GmbH.
DLA Piper advised LBBW Immobilien under the joint lead of partner Fabian Mühlen and counsel Moritz Mursa (both Real Estate). The team also included partner Dr Marie-Theres Rämer, senior associates Albina Daka (both Tax; all Frankfurt), Muhammet Yavuz (Cologne) and associate Tina Popp (both Real Estate; Frankfurt).
