Commerz Real has acquired a virtually fully leased office ensemble on the banks of the river Rhine in Cologne’s Neustadt-Nord district for around €60 mln.
The asset, with a leasable area of 10,900 m2, was bought on behalf of Commerz Real’s hausInvest open-ended real estate fund from Köln Oppenheimstraße GbR.
The complex, which comprises four elements, was erected between 1900 and 1967 on a plot of land covering 8,900 m2 and was extensively modernised in 2008. The asset is multi-let with tenants including insurer DEVK Rückversicherung und Beteiligungs-AG, Aachener Grundvermögen Kapitalverwaltungsgesellschaft, Deutsche Oppenheim Family Office as well as Evo Payments, a specialist for cash-free payment transactions.
’With its positive leasing situation, the high-quality location and an attractive potential for redensification, the ensemble perfectly suits the investment strategy of hausInvest,’ said Maja Procz, global head of transactions at Commerz Real.
