The challenging situation for open-ended real estate funds is now apparently also leading to legal disputes. As the Berlin law firm Goldenstein Rechtsanwälte, which attracted attention in connection with lawsuits in the diesel scandal, announced on Wednesday, it has filed a lawsuit against Volksbank Böblingen at the Tübingen Regional Court. The accusation is incorrect advice in connection with an open-ended real estate fund, the “UniImmo: Wohnen ZBI” of the fund company Union Investment. This real estate fund invests primarily in residential properties in large and medium-sized German cities; a real estate segment that has recently suffered from a drop in prices. Many real estate funds are currently experiencing outflows of investor money.
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