{"id":14738,"date":"2021-03-12T07:11:45","date_gmt":"2021-03-12T06:11:45","guid":{"rendered":"https:\/\/hihinvest-gyeegbg7hxdxf8d4.a01.azurefd.net\/bbg-completes-sale-to-kreissparkasse-boeblingen-special-fund-via-forward-deal\/"},"modified":"2025-02-13T22:58:24","modified_gmt":"2025-02-13T21:58:24","slug":"bbg-completes-sale-to-kreissparkasse-boeblingen-special-fund-via-forward-deal","status":"publish","type":"post","link":"https:\/\/hih-invest.de\/en\/bbg-completes-sale-to-kreissparkasse-boeblingen-special-fund-via-forward-deal\/","title":{"rendered":"BBG completes sale to Kreissparkasse B\u00f6blingen special fund via forward deal"},"content":{"rendered":"<ul>\n<li>Special fund is managed by Warburg-HIH Invest<\/li>\n<\/ul>\n<p><strong>Hamburg, 12 March 2021<\/strong> \u2013 B\u00f6blinger Baugesellschaft (BBG) is realising the new PULSE development in the centre of B\u00f6blingen. Work to demolish the existing City Center retail complex is nearing completion, and construction of the new development designed by Steinhoff\/Haehnel Architekten GmbH, which combines retail, office and residential space, on the 7,450 square-metre site is set to begin in the coming weeks.  <\/p>\n<p>BBG has already successfully sold one of the two sections, section B, to an individual fund (open special AIF) of Kreissparkasse B\u00f6blingen, which is managed by Hamburg-based Warburg-HIH Invest Real Estate GmbH, even before construction work is due to start. The transaction was completed as part of a forward deal. The success of the transaction hinged on the smart usage concept and the high share of commercial units in section B.  <\/p>\n<p>\u201cThe transaction was deliberately structured as an off-market deal and we were able to reach closing within two months,\u201d says BBG Managing Director Rainer Ganske. \u201cThis underlines the high level of professionalism and commitment of all those involved.\u201d <\/p>\n<p>\u201cWe are delighted to have secured part of a very attractive residential and office complex on behalf of Kreissparkasse B\u00f6blingen, in close proximity to its head office, at such an early stage,\u201d says Hans-Joachim Lehmann, Managing Director of Warburg-HIH Invest Real Estate. \u201cThe project is the perfect fit with the investment strategy of an individual fund that is based on solidity and sustainability.\u201d  <\/p>\n<p>A non-disclosure agreement has been concluded regarding the details of the deal. BBG was advised by EY Munich. BBG also intends to sell section A as part of a forward deal in the coming months. <\/p>\n<blockquote  class=\"blockquote\"><p>  <em>\u201cThe transaction was deliberately structured as an off-market deal and we were able to reach closing within two months. This underlines the high level of professionalism and commitment of all those involved.\u201d<\/em>  <\/p>\n<p><strong>Rainer Ganske, Managing Director<br \/> B\u00f6blinger Baugesellschaft<\/strong><\/p>\n<\/blockquote>\n<blockquote  class=\"blockquote\"><p>  <em>\u201cWe are delighted to have secured part of a very attractive residential and office complex on behalf of Kreissparkasse B\u00f6blingen, in close proximity to its head office, at such an early stage. The project is the perfect fit with the investment strategy of an individual fund that is based on solidity and sustainability.\u201d<\/em>  <\/p>\n<p><strong>Hans-Joachim Lehmann, Managing Director<br \/> Warburg-HIH Invest<\/strong><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Special fund is managed by Warburg-HIH Invest Hamburg, 12 March 2021 \u2013 B\u00f6blinger Baugesellschaft (BBG) is realising the new PULSE 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