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CMS advises Baden-Württemberg Stiftung on acquisition of Mercedes-Benz Bank building in Pragsattel district of Stuttgart

07/07/2017

Stuttgart – State-owned foundation Baden-Württemberg Stiftung has acquired the MercedesBenz Bank building in the Pragsattel district of Stuttgart. The property offers more than 23,700 square metres of rental space and 539 parking spaces. The purchase price was not disclosed.

The CMS real estate team headed by partner Dr Volker Zerr from the Stuttgart office advised the Baden-Württemberg Stiftung on the legal aspects of the acquisition. The instruction included advising on tax and competition law, in addition to real estate matters.

The Stuttgart-based Baden-Württemberg Stiftung is one of the largest foundations under private law in Germany. Each year, the foundation invests around EUR 40 million to support non-party projects in the fields of science, education and society in Baden-Württemberg. The federal state’s finance ministry manages the foundation’s assets, totalling some EUR 2.3 billion. The assets chiefly comprise investment funds, real estate and equity stakes. The acquisition of the building in Pragsattel raises the foundation’s real estate weighting to approximately 25%.

CMS Hasche Sigle

Dr Volker Zerr, Lead Partner
Jacqueline Terhöven, Senior Associate
Maximilian Oberwittler
Dr Martin Prothmann
Aylin Kocak, all Associates, all Real Estate
Dr Christian Haellmigk, Partner, Competition
Dr Martin Mohr, Counsel, Tax

Press Contact
presse@cms-hs.com

Real Estate & Public
Press releases
Press Release Baden-Württemberg Stiftung, 07/07/2017
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