LBBW Immobilien Management GmbH, Stuttgart, has sold the retail and office property “Hofstatt”. Quantum Immobilien KAG and Universal-Investment GmbH have acquired the trophy building for a small club of German institutional investors. The investment is structured as a special fund (“Spezialfonds”), with Quantum overseeing portfolio and asset management. Universal-Investment acts as a “Service-KAG” and handles fund administration.
The core property in a preferred high-street location in Munich’s Sendlinger Straße offers 15,500 m2 of retail space and 18,500 m2 of office space. As representatives of the principal, Hines Immobilien GmbH handled commercial and technical implementation on behalf of LBBW Immobilien.
The parties agreed not to disclose the sale price.
Real estate consultancy BNP Real Estate and law firm Hengeler Mueller advised the seller, while law firm JebensMensching and real estate consultancy Valteq advised the buyer.
Hofstatt’s prominent retail tenants include the U.S. fashion label Abercrombie & Fitch, adidas, Tom Tailor, Gant, Hollister and J.Lindeberg; key office tenants include Invesco, Pöllath+Partner and AT Kearney.
Source : Company