Hines Immobilien has purchased Kö-Quartier in Düsseldorf and Kronprinzbau in Stuttgart which it intends to place in the strategic long-term component of its portfolio. Kö-Quartier is a mixed-use center along one of Dusseldorf’s primary commercials made up of five buildings, with a tenant list that includes Deutsche Bank AG, Linklaters, Bank of Tokyo and Lang & Schwarz Wertpapierhandelsbank. BNP Paribas Real Estate, Eastdil Secured and Clifford Chance Germany advised the seller in the transaction, while LBBW is providing debt financing for the property and an associated development project.
Located in Stuttgart, Kronprinzbau is another mixed-use scheme offering both office and retail cpomonents, the latter of which includes tenants such as Max Mara and Rene Lezard. ING provided debt financing for the transaction.
