Commerz Real acquires Uhland Carré in Stuttgart

Commerz Real has acquired Uhland Carré in downtown Stuttgart for its open-ended real estate fund hausInvest. The complex has a total leasable area of 51,600 sqm and offers 573 underground parking spaces. Immobilien Zeitung reports that the vendor, Officefirst, agreed to a price of €220m. The main tenant with around 93 per cent of the available space is Allianz, which started building its headquarters in 1978 by using three listed buildings from the 19th century. The business center includes a variety of various retail outlets, restaurants and cafes on the ground floor. The loft accommodates 32 apartments. Commerz Real was advised in the transaction by Taylor Wessing (legal), KPMG (tax) and Duff & Phelps REAG (technical issues). Colliers International Deutschland acted as the broker.