11-2019Seil & Co. advises TM Property on an acquisition in Stuttgart

In Nauenerstrasse in the Degerloch/Hoffeld district of Stuttgart, a housing complex with 14 flats and 14 garage parking spaces will change hands in an off-market transaction at the end of the year.

The property was constructed in around 1972 and covers a total area of approximately 1,000m2. Its two and three-room flats with functional floor plan designs have been continuously renovated over the course of re-lettings in the past. They all have a balcony that provides a panoramic view of the surrounding forests, despite their central location. The sought-after flat sizes, impeccable building fabric and central location offer long-term rent increase potential and guarantee constant positive lettability. The vendor is a private property portfolio holder from the Stuttgart region and the buyer is a project company of the TM Property Group from Limburg. Seil & Co. Investment from Wiesbaden managed the exclusive acquisition process on behalf of TM Property and has been contracted to handle asset management. The parties have agreed not to disclose the purchase price.

The estate agent Paul & Partner Real Estate acted as a broker in the transaction. TM Property plans to further expand its portfolio in the Stuttgart region by acquiring portfolio properties and properties that can be converted (divided) into flats.