Württembergische Lebensversicherung acquires development project in southern Germany with aid of CMS

Stuttgart – Insurance company Württembergische Lebensversicherung AG has acquired a residential development project involving the construction of 101 studio apartments for sale and 25 rental apartments as part of a forward deal. The seller is a project company belonging to ZBI Zentral Boden Immobilien AG of Erlangen. Construction of the new-build scheme near Stuttgart is due to be completed in spring 2018. The purchase price was not disclosed.

A CMS team headed by lead partner Dr Volker Zerr advised Württembergische Lebensversicherung AG on the legal aspects of the acquisition. Stuttgart-based partner Volker Zerr and his team specialise in real estate transactions and regularly advise Württembergische Lebensversicherung, most recently on the sale of the Kurpfalz Center in Mannheim, the sale of a residential portfolio of around 500 apartments in Munich, Hanover, Düsseldorf and Darmstadt, and on the acquisition of the Skyline residential tower in Stuttgart.

Headquartered in Stuttgart, Württembergische Lebensversicherung is one of the largest life insurance companies in Germany. It is majority-owned by financial services group Wüstenrot & Württembergische.

The ZBI Group is an independent real estate company that specialises in German residential property. In total, the ZBI Group currently manages more than 17,600 residential and business units and handles a transaction volume in excess of EUR 4 billion.

CMS Hasche Sigle

Dr Volker Zerr, Lead Partner
Dr Carsten Giersch, Counsel
Dr Martin Prothmann, Associate, all Real Estate & Public

Press Contact
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