Stuttgart – Württembergische Lebensversicherung has acquired the Stubengasse retail property in Münster for around EUR 73 million. The vendor of the 17,000 sq m complex is SEB Asset Management, which acquired Stubengasse at the end of 2009 for approximately EUR 67 million for its semi-institutional open-ended fund SEB ImmoPortfolio Target Return Fund.
A team led by Dirk Rodewoldt and Volker Zerr advised Württembergische Lebensversicherung on the legal aspects of the transaction from the start. Württembergische Lebensversicherung is a long-standing client of CMS Hasche Sigle, which has already advised the company on a number of purchases and sales transactions.
Stubengasse’s main tenants include Esprit, Karstadt Sport, Deutsche Bank, the Ramada-Treff hotel group and car park operator WBI. The average remaining lease term is around ten years.
Advisers CMS Hasche Sigle:
Dr Dirk Rodewoldt, Real Estate
Dr Volker Zerr, Real Estate
Birgit Engel, Real Estate
