Real estate club buys German mixed-use property
BMO Real Estate Partners Deutschland, on behalf of an investment club, has completed the acquisition of a mixed-use property in Mannheim, Germany, for more than €300 million ($317 million). The seller is DIRINGER & SCHEIDEL.
The new owner is a real estate special AIF managed by BMO Real Estate Partners Deutschland and administered by the HANSAINVEST service agency in which five institutional investors are invested.
“This is the first club deal that we have implemented as a team here and at the same time the largest acquisition in our company history,” said Iris Schöberl, managing director of Germany and head of institutional clients of BMO Real Estate Partners Deutschland.
The mixed-use Q6/Q7 property is located in a prime location in the inner city of Mannheim, totaling 645,000 square feet of total rental space.In addition to retail space, the property includes a four-star hotel, office space, medical practices and restaurants.
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