German lender Südwestbank has reportedly hired agent BNP Paribas Real Estate to sell a portfolio consisting of eight office buildings worth some €250 mln.
According to a news report by Thomas Daily, the lender is looking to sell five assets in Stuttgart, including its own head office at Rotebühlstrasse 121-125, as well as three other offices in Munich, Mainz and Darmstadt.
The package provides a total of 58,500 m2 of rental space with a lease term of four years and total rental income of €9.4 mln a year.
Südwestbank and BNPPRE declined to comment on the sale.
