Europa Capital Partners has announced the sale of a new office and retail development in downtown Stuttgart to Credit Suisse Asset Management for EUR 150 mln. Europa Capital Partners was acting for its Europa Fund, while the buyer carried out the transaction in January for open-ended fund CS Euroreal
Europa Capital Partners has announced the sale of a new office and retail development in downtown Stuttgart to Credit Suisse Asset Management for EUR 150 mln. Europa Capital Partners was acting for its Europa Fund, while the buyer carried out the transaction in January for open-ended fund CS Euroreal
Kronprinzstraße 6, is located close to the Kleiner Schloßplatz in the city. The property comprises 25,425 m2 of offices, retail, residential and storage space with a 3-level underground car park. Landesbank Baden-Württemberg (LBBW) leases the entire 17,375m2 office space and 2,226 m2 of storage space on a 15-year lease. The retail units on the ground level are let to a number of retailers, including MaxMara, René Lezard and Nokia.
Erik Ruane, development director at Europa Capital Partners, commented: 'We are delighted with this disposal which truly reflects the premium quality of this investment and Credit Suisse has proven to be a thoroughly professional and reliable contract partner'.
