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FLE acquires hotel and office building in Stuttgart

The Viennese company FLE GmbH has successfully completed a further acquisition for its Luxembourg fund FLE SICAV FIS in the form of a hotel and office building with a lease area of around 10,000 m² in Stuttgart-Feuerbach, Germany. The IBIS Budget hotel, which has around 210 rooms, is under long-term lease to the Accor Group and the office space in the building is leased out to various tenants. The property was sold by a foreign investment group. The parties have agreed not to disclose the purchase price.

The purchasers were advised by GSK Stockmann + Kollegen, Munich, and the sellers by Latham & Watkins LLP, Hamburg.

Cushman & Wakefield was engaged for the sales process on an exclusive basis.