BÖBLINGEN / LONDON (IT BOLTWISE) – HIH Invest recently acquired the residential complex ‘Quartier auf dem Flugfeld’ in Böblingen. This transaction was supported by the international law firm Clifford Chance. The property includes 121 residential units and one commercial unit and is part of the largest construction project in the Stuttgart region. The residential complex offers a total rental area of around 10,300 square meters and was completed in 2012.
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The renowned law firm Clifford Chance advised HIH Invest, a leading investment manager in the real estate and infrastructure sectors, on the acquisition of the residential complex ‘Quartier auf dem Flugfeld’ in Böblingen. This transaction is part of the open special AIF ‘HIH Wohninvest Quartiere Deutschland’. The fully let residential property offers a total rental area of around 10,300 square meters and includes 121 residential units and a commercial unit on the ground floor.
The seller of the residential complex, which was completed in 2012, is the Hamburg-based HT Group, an investment, asset and fund manager, which acquired the property in 2013 for the closed real estate fund ‘domicilium 7’. This strategic acquisition underlines the importance of Böblingen as an attractive location for investments in residential real estate.
The residential complex is part of the new urban district ‘Flugfeld’, which is being built on a former airport site. This project is the largest construction project in the Stuttgart region and covers around 80 hectares on which apartments as well as commercial and service areas are being built. The proximity to local amenities, leisure activities and medical care makes the district particularly attractive.
The Clifford Chance team that assisted HIH Invest in this transaction was led by Dr. Philipp Stoecker, an experienced partner in the field of real estate law in Frankfurt. This collaboration demonstrates Clifford Chance’s expertise in complex real estate transactions and its ability to successfully close significant deals.
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