In syndication with Sparkasse KölnBonn and Kreissparkasse Köln, German lender Berlin Hyp has issued a development loan of €167 mln to fund the construction of the largest commercial scheme in Cologne.
A joint venture between Art-Invest Real Estate and OSMAB Holding is building I/D Cologne, which will take shape over the next seven years on the former freight station site of Cologne-Mülheim.
Including approximately 10 buildings on a total area of approximately 160,000 m2, the new scheme will comprise a mix of office, hotel, health and fitness, gastronomy, parking and open spaces.
Berlin Hyp will assume lead management of the syndicate, which is initially financing four office buildings, a hotel and a multi-storey car park as part of the implementation of the district's initial 85,000 m2.
