CMS advises Allianz Lebensversicherungs-AG on sale of mixed-use Central One property in Stuttgart to Hines

Stuttgart – Allianz Lebensversicherungs-AG has sold the mixed-use Central One property in Stuttgart to global real estate investor and developer Hines. Hines is acquiring the property for its open-ended core plus fund Hines European Property Partners (HEPP). The purchase marks the first investment by HEPP in Germany.

The property offers around 7,500 square metres of office, retail and residential space and is situated in Stuttgart city centre in the immediate vicinity of the town hall. Hines intends to develop it as a mixed-use property with a focus on ESG credentials.

A CMS team headed by lead partner Dr Volker Zerr advised Allianz Lebensversicherungs-AG on all legal aspects of the transaction. Allianz and its subsidiaries regularly rely on CMS’s expertise.

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