German financial group DEG has sold its headquarters in Koln-Mungersdorf, Western Germany to German real estate firm Pandion Real Estate for an undisclosed amount. DEG's head office comprises three buildings on a 9,000 m[sup]2[/sup] plot of land. The sale process for the property was organized by the Cologne branch of Atisreal.
German financial group DEG has sold its headquarters in Koln-Mungersdorf, Western Germany to German real estate firm Pandion Real Estate for an undisclosed amount. DEG's head office comprises three buildings on a 9,000 m2 plot of land. The sale process for the property was organized by the Cologne branch of Atisreal.
Pandion Real Estate plans to redevelop the assets into a residentail complex. DEG, a unit of the KfW banking group, intends to move to a new building in Cologne's city center in August 2008.
DEG stands for Deutsche Investitions- und Entwicklungsgesellschaft.
