TD News International Location: Cologne

Cologne: District government leases 4,000 sqm from Momeni

10/12/2018 The district government of Cologne has signed a 25-year lease for 4,000 sqm on Börsenplatz 1 in the banking district. The building dating from 1952 has a total of 21,000 sqm GFA and has been part of the portfolio of open-ended Spezial-AIF Momeni Prime Opportunities I since 2017. The city shares the property with EY. [...]

Cologne: Cube Real Estate acquires “Irishöfe” from Circle

06/12/2018 Cube Real Estate and Pegasus Capital Partners have acquired the “Irishöfe” project, located at Kasernenstraße 2 in Cologne’s Kalk district, in a share deal. TD has learned from market insiders that the seller is Circle Development in Cologne, which had already seen the project to its zoning ordinance, together with the Cologne architectural firm Dewey [...]

Cologne: CG Group sells “Cologneo I” for €241mn

14/11/2018 The asset management company Swiss Life KVG has acquired a section of the “Cologneo I” quarter development in Cologne for an open-ended real estate Spezial AIF for €241.5mn. The seller is a company of the CG Group. Corpus Sireo is taking over asset management of the property, which includes six new and renovated buildings between [...]

Cologne: Momeni buys Commerzbank HQ from Quantum

05/11/2018 Momeni Investment Management has acquired the office complex at Unter Sachsenhausen 5-7 / Komödienstraße 18-24 in Cologne’s banking district from Quantum. The property was built between 1960 and 1963 and modernized in 1989. It has roughly 14,200 sqm GFA and is 95 % leased to Commerzbank. The purchase was for the open-ended Spezialfonds “Prime Opportunities Fund 1” [...]

Art-Invest builds and operates Moxy Hotel at Cologne/Bonn airport

31/10/2018 Art-Invest Real Estate is going to build a Moxy Hotel at Cologne/Bonn airport, across from Terminal 1. The facility will have 250 rooms, a conference and meeting area, as well as restaurants and a fitness area. Art-Invest intends to keep the establishment long-term in the portfolio of the AIREF Core Budget Hotel fund and, according [...]

Cologne: Commerz Real buys Dorint Messe Hotel

09/10/2018 Commerz Real Kapitalverwaltungsgesellschaft (KVG), a subsidiary of Commerz Real, has acquired the Dorint Hotel “An der Messe” in Cologne-Deutz for its Commerz Real Institutional Hotel Fund. The seller is Messehotel Köln. The six-story, four star hotel on Deutz-Mülheimer Straße 22-24 directly adjacent to Cologne’s expo was completed in 2001. It has nearly 20,000 sqm lettable [...]

Cologne: Koreans buy former Lufthansa HQ in Deutz

09/10/2018 Hyundai Asset Management has acquired the former Lufthansa headquarters in Cologne-Deutz for a Korean investors club led by Mirae Asset Daewoo. The 20,414 sqm building on Deutz-Mülheimer Straße 20/Von-Gablenz-Straße 2-6 is leased long-term to the Institute for Federal Real Estate (Bima). The seller is M&G Real Estate. Hyundai was advised on this off-market transaction by [...]

Cologne: Althoff sells first “Urban Loft”

02/10/2018 Patrizia has acquired the hotel project “Urban Loft” of Althoff Group in Cologne. This became known in connection with the recent construction start for the new design brand. The location is the former Gaffel brewery site on Eigelstein 41. By 2020, a 212-room hotel will be built according to plans by Berlin interior designers Markus Hilzinger [...]

Cologne: Momeni and HanseMerkur buy Oppenheim headquarters

24/09/2018 Momeni Group and HanseMerkur Grundvermögen have acquired the three-building complex “Oppenheim Stammhaus” in downtown Cologne. Seller is Deutsche Bank. The office ensemble is located on Unter Sachsenhausen/Stolkgasse/Enggasse and Tunisstraße and has roughly 18,000 sqm. Main tenant is the private bank Sal. Oppenheim, who will be vacating its spaces in the medium term. The partners are planning [...]

Cologne: Rewe opens automated fulfillment center for online grocery orders

24/09/2018 Rewe has opened its first automated fulfillment center for online grocery orders on the Carlswerk site in Cologne-Niehl. The retail chain quotes the costs for the “Scarlet One” at around €80mn. The 17,000 sqm warehouse replaces the previous fulfillment center in Hürth, where deliveries were still packed manually. In Niehl, the products are now picked from [...]