WestInvest buys EUR 50m development in Stuttgart

By A staff reporter 2007-06-22T00:00:00+01:00

WestInvest has bought a project development in Stuttgart for EUR 50 mln. The development, sold by Phoenix Real Estate Development, is expected to provide about 8,900 m[sup]2[/sup] of offices and 600 m[sup]2[/sup] of retail space. The project is earmarked for the open-ended real estate fund WestInvest ImmoValue. Completion of the complex is scheduled for spring 2009. About 86% of the lettable space has been pre-let, the company said in a statement.

WestInvest has bought a project development in Stuttgart for EUR 50 mln. The development, sold by Phoenix Real Estate Development, is expected to provide about 8,900 m² of offices and 600 m² of retail space. The project is earmarked for the open-ended real estate fund WestInvest ImmoValue. Completion of the complex is scheduled for spring 2009. About 86% of the lettable space has been pre-let, the company said in a statement.