German courts order banks to pay compensation for mis‑selling open‑ended real estate funds
Open‑ended real estate funds (Offene Immobilienfonds) were long viewed as a safe investment, but recent value corrections, limited redemption options and fund closures have left many investors disadvantaged. German courts have ruled that banks that mis‑informed customers about these funds must pay damages.
The Landgericht Stuttgart on 15 May 2025 ordered a bank to pay €5,095 after it induced an inexperienced investor to believe the UniImmo Wohnen ZBI fund was as secure as deposit‑insured savings. The Landgericht Münster issued a similar ruling on 15 January 2026, finding that the bank had failed to disclose the 12‑month redemption notice and the 24‑month minimum holding period required by § 255 KAGB. Both decisions underscore that “Ein offener Immobilienfonds ist kein Sparbuch”.
Earlier, the Bundesgerichtshof had ruled that banks must proactively inform clients about the risk that withdrawals from open‑ended real estate funds could be suspended. Consumer‑rights lawyer Leonid Ginter advises investors who were promised safety, capital preservation or short‑term availability to have their prior advice re‑examined.
Entities: Bundesgerichtshof · Landgericht Münster · Landgericht Stuttgart · Leonid Ginter · UniImmo: Wohnen ZBI
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 3 SOURCES] Lawyer Leonid Ginter advises investors who were promised safety, capital preservation or short‑term availability to review their prior advice. (All articles)
- [● 3 SOURCES] The court found the bank had misled an inexperienced investor into believing the fund was as safe as deposit‑insured savings. (All articles)
- [● 3 SOURCES] The Landgericht Stuttgart ordered a bank to pay €5,095 in compensation on 15 May 2025 for mis‑selling the UniImmo Wohnen ZBI fund. (All articles)
- [● 3 SOURCES] The mis‑advice omitted the 12‑month redemption notice period and the 24‑month minimum holding period required by § 255 KAGB. (All articles)
- [● 3 SOURCES] The Landgericht Münster ordered compensation on 15 January 2026 for mis‑advice on the same UniImmo Wohnen ZBI fund. (All articles)
- [● 3 SOURCES] Open‑ended real estate funds were previously regarded as solid investments but now face value corrections, restricted redemptions and fund closures. (All articles)
- [● 3 SOURCES] The Bundesgerichtshof ruled that banks must inform customers proactively about the risk of a possible suspension of fund withdrawals. (All articles)