Asset manager BMO Real Estate Partners said it has completed the acquisition of the mixed-use Stadtquartier Q 6 Q 7 development in the southwestern German city of Mannheim for over €300 mln.
The vendor was developer Diringer & Scheidel.
BMO will add the development to a special real estate fund invested by five institutional players.
Stadtquartier Q 6 Q 7, located in the centre of Mannheim, opened to the public at end-September 2016. At its heart is a shopping centre comprising some 60,000 m2 of GLA. It also includes a four-star hotel, office space, medical facilities and 85 residential units.
BMO Real Estate Partners specialises in real estate investments for institutional investors and manages €7.5 bn of assets under management worldwide.
