Cologne: CG Group sells “Cologneo I” for €241mn
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 five and seven stories, with diverse uses including residential (484 units on around 33,320 sqm), office (just under 8,800 sqm), commercial/retail (around 4,500 sqm), a 175-room hotel, 425 parking spaces, and a 1,000+ sqm day care center. The “Cologneo I” quarter is located on a former industrial site on Deutz-Mülheimer Straße, and is part of the 2014 “Mülheimer Süden” master plan for a new urban quarter to accommodate nearly 10,000 people.
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