PAMERA Asset Management GmbH, acting for Quadra Stuttgart S.à.r.l, has sold the ‘Presidio’ office building in Stuttgart. The parties agreed not to disclose the purchase price. The building, which is situated in the Vaihingen district, was acquired by Woh-ninvest GmbH, which was advised on the purchase by Jones Lang LaSalle Stuttgart.
Since 2007, PAMERA’s responsibilities included letting the building, completed in 1990, at Schockenriedstrasse 8 A–D. In the scope of its instructions the building was comprehensively refurbished and PAMERA was able to significantly improve the letting status of the around 12,400 m² total lettable area. In particular by concluding two major leases on a total of 2,500 m² of office space, PAMERA succeeded in restoring the building’s marketability and interest for investors.