Warburg-HIH Invest Real Estate has acquired the Gürzenich-Quartier mixed office-commercial building currently under construction in Cologne.
Warburg-HIH Invest Real Estate has acquired the Gürzenich-Quartier mixed office-commercial building currently under construction in Cologne.
The Hamburg-based investor did not disclose the investment volume.
The 13,000 m2 Gürzenich-Quartier scheme is earmarked for an institutional pool of segregated assets. The property is being raised on a plot of about 2,500 m2 across from the Gürzenich concert hall, which dates from the 15th century and is a key congress and events location in Cologne.
The asset is expected to be completed and ready for occupation by the second quarter of 2016.
The vendor was a joint venture between Metropol Immobilien und Beteiligungs and Johann Bunte Bauunternehmung.
