Union Investment has acquired the Cäcilium building in Cologne for its special real estate fund, UII German Prime Select.
Constructed in 2009, the office building at Cäcilienkloster 2, 4, 6, 8, 10 provides 19,380 m2 of office space in Cologne city centre. The building is let to ten different creditworthy tenants. The main tenants include the Allianz insurance group, major bank BNP Paribas and management consultancy KPMG.
The purchase price was not disclosed.
‘Cäcilium is an architecturally timeless and flexible building in a very good downtown location in Cologne and is geared to the needs of quality-conscious tenants. The property’s corner location ensures exceptionally high visibility,’ said Wolfgang Kessler, a member of the senior management team at Union Investment Institutional Property.
Union Investment was advised legally by Hogan Lovells, fiscally by Heuking Kühn Lüer Wojtek and technically by HPC and Lehmann Consult.
