LBBW acquires €90m German office portfolio

LBBW Immobilien bought a Five-asset German office portfolio for €90m. The properties, located Baden-Wurttemberg and northern Germany, were acquired for LBBW’s specialist AIF vehicle, Germany Diversified Core+, which has a targeted investment volume of €400m. The seller was an unnamed institutional investor. The Sidon office portfolio was acquired in a structured bidding process run by Colliers International. P + P Pöllath + Partners acted as the legal adviser for LBBW, while Arcadis served as a technical adviser. LBBW Immobilien is Stuttgart-based landesbank LBBW’s property arm.