Warburg-HIH Invest Real Estate has sold an office and commercial property in Stuttgart to LaSalle Investment Management for an undisclosed sum.
The sale of the 6,313 m2 property at Torstraße 15 was organised by Ellwanger & Geiger in an open bidding procedure.
'Warburg-HIH Invest has taken full advantage of the current market environment to achieve an attractive price for this central-Stuttgart property,' said Hans-Joachim Lehmann, managing director transaction management Germany at Warburg-HIH Invest Real Estate.
The office and commercial property has a multi-tenant structure and is 98% occupied. The main tenant is Barmer GEK, Germany’s second largest health insurance company. In addition to the office units, the building also contains retail and storage space, along with 55 car parking spaces.
Warburg-HIH Invest were advised on legal matters by Ashurst LLP.
