Commerz Real has acquired an office complex with a leasable area of approx. 10,900 square metres on the banks of the river Rhine in Cologne’s Neustadt-Nord district for €60 million for its open-ended real estate fund hausInvest.
The seller is the real estate company Köln Oppenheimstraße GbR.
The office complex, which comprises four elements, was erected between 1900 and 1967 on a plot of land covering approx. 8,900 square metres and was extensively modernised in 2008.
“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.