Hansainvest fund acquires two office buildings in Cologne

A special fund managed by Germany's Hansainvest has invested around EUR 55 mln to acquire the RheinPalais and RheinAtrium office properties in Cologne from Austrian firm CA Immo. The properties comprise a total rentable area of 16,000 m² and are part of the RheinTriadem complex.

The buildings comprise a total of 16,000 m² and are part of the RheinTriadem complex. They were renovated and partially rebuilt by CA Immo's German subsidiary Vivico.

Nicholas Brinckmann, managing director of Hansainvest commented, 'We have acquired two absolutely prime properties in a superb location in the shape of these two buildings in Cologne. Most of the rental agreements are drawn up for the long term, and the creditworthiness of the tenants is excellent.'

Vivico is currently developing a utilisation plan for the former railway authority building, which also belongs to the RheinTriadem.