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Hines' European Value Added Fund sells Postquartier in Stuttgart

The Hines European Value Added Fund (HEVAF) sold the Postquartier to the federal state of Baden-Württemberg-Stiftung. Located in Stuttgart's CBD on the corner of Kronenstrasse and Lautenschlagerstrasse, adjacent to Stuttgart's main shopping street, Koenigstrasse, Postquartier is a 301,000-square-foot, 11-story office building that includes 102,000 square feet of retail on the first two floors. Financials on the sale were not disclosed.Originally constructed in 1927, Postquartier was demolished and rebuilt in the 1980s. HEVAF purchased the former headquarters of Deutsche Post (German postal service) in 2008. Hines Germany then oversaw the property's €100 million refurbishment on behalf of HEVAF, resulting in a modern, high-performance bui...[…]