Lender Landesbank Baden-Württemberg (LBBW) has provided a €210 mln refinancing to US privately-held developer-investor Hines for the Allianz Campus in Stuttgart.
The property, which was bought by Hines in 2019 for €340 mln, provides a total net lettable area of 89,060 m2. It consists of two office towers and 11 other buildings largely let to Allianz.
The campus is located between the CBD and an urban neighbourhood close to the Stadtmitte train station and has served as the insurer's headquarters since 1927.
Hines owns the asset through its HEVF SCSp fund.
International law firm BCLP advised LBBW on the refinancing.
