Germany’s Koehler Real Estate has acquired a mixed-use (office and residential) commercial building in Stuttgart from the Waldbauer family.
The property, fully refurbished in 2021, is located on Königstraße 29, a prime location in the pedestrian zone of the city.
It offers 2,363 m2 of usable space, including around 540 m2 of retail and restaurant space, five office units with a total of around 1,400m2 and two penthouses with around 380 m2 of living space.
The purchase price is just under €25 mln, corresponding to 22-23 times the annual net cold rent.
The purchase offered the opportunity to take over existing loans at very favourable conditions, according to Koehler Group, the single family office of internet store founder René Köhler.
BW Immobilienvermittlung acted as an intermediary and advisor.
Koehler Real Estate owns a portfolio of logistics, office and residential properties in southern Germany, primarily in the Stuttgart metropolitan region, focusing on sustainable, high-yield residential and commercial properties.
