Vienna-based FLE GmbH has successfully completed another acquisition for its Luxembourg fund FLE SICAV FIS, acquiring a hotel and office complex in Stuttgart-Feuerbach with a rental area of approx. 10,000 m². The IBIS Budget contains around 210 rooms and is leased to the Accor group on a long-term basis, while the offices in the building are leased to various tenants. The seller was a foreign investor group. It was agreed by both parties that the purchase price would remain confidential.

The buyer was advised by GSK Stockmann + Kollegen, Munich, and the seller by Latham & Watkins LLP, Hamburg.

Cushman & Wakefield was exclusively mandated for the sales process.