Munich, 5 January 2020 – TA Europe has advised leading real estate asset manager AEW on the purchase of an office building located at Paulinenstrasse 50 in Stuttgart for its Europe Value Investors II Fund. The transaction is the fund’s first in Stuttgart and the third in Germany, and it increases the fund’s value to over € 250 million.
TA Europe carried out the technical due diligence of the seven-storey building comprising 6’500 sqm of lettable space and 78 parking lots. Long-term tenant of the building is state university Duale Hochschule Baden-Wuerttemberg. TA Europe’s technical advisory services to support the purchase process included the detailed review of technical data, site visits and condition surveys as well as future CAPEX requirement assessments of the property.
Tobias Schnurer, Investment Director at AEW, says: “The acquisition of Paulinenstrasse offers our investors a long-term secured lease contract with excellent creditworthiness and further value creation potential through medium-term asset management activities. We are grateful for TA Europe’s technical due diligence expertise, which helped us gain clarity about the property value and greatly facilitated a smooth transaction process.”
Sebastian Frohwann, Partner at TA Europe, adds: “Technical due diligence is at the core of what we do. As we are deeply familiar with similar assets, we could deliver the required information quickly and accurately. We are happy that AEW has once again chosen our team to carry out a technical due diligence.”