Nadine Robra, Team Leader Transaction Management Germany at HIH Invest, elaborated: “The central location between the river and the historic town centre, the view of the cathedral and of the Kranhäuser dockside buildings right next door, combined with very convenient access to public means of transportation and the fact that the central railway station lies within walking distance, all this makes the property an attractive office venue that has appealed to companies like Microsoft, Birkenstock and congstar.“
Moreover, the modern rental units at the property have great potential for alternative types of use, while the asset quality is tantamount to new-build and includes high-end fit-out features. The office scheme provides a high level of amenities to those who work here, has local recreational options within walking distance despite the central location, features EV charging stations in the underground car park, and is hooked up to district heating for an efficient energy consumption rate. In addition, the roof is suitable for the installation of renewable energy sources.
Being the largest city in North Rhine-Westphalia, with a population of over a million, Cologne has a strong force of attraction within the region and is known for its innovative strength. The city is one of the cultural centres along the Rhine, but also has a diversified economic structure with a high degree of digitisation and an excellent infrastructure, including international transport links. About 17 million people live inside a 100-kilometre radius, making it the most populous conurbation within the European Union. Forecasts predict a 4.3-percent population increase for Cologne by 2030.
Tassu Degen, managing partner at DERECO, commented the transaction: “As usual, HIH Invest Real Estate proved a professional partner in initiating and implementing the transaction. The experience has motivated both companies to deepen the business relations on other levels, too.”
Oliver Scholtz, Senior Fund Manager at HIH Invest Real Estate, added: “The Property is a high-end office investment in one of Germanys Big 7 cities. The diversified tenant structure of the multi-tenant property and its excellent location offer security and potential future development opportunities.”
“We are very content with the signing, which was highly attractive to both parties. HIH Invest Real Estate thus secured an asset in a premium riverside location in the Rheinauhafen area. The lease signings of the past 24 months also reflect the high quality of the site and of the property, which in its present form is superbly positioned for the future,” said Marco Frank, Senior Investment Manager at DERECO.
On the buyer side, the legal and fiscal due diligence (DD) was performed by Ashurst LLP in Frankfurt. The technical due diligence (TEDD) was conducted by Drees & Sommer SE, the firm also responsible for the ESG due diligence.
On the seller side, legal and fiscal counsel to DERECO was provided by Hogan Lovells International LLP in Frankfurt, technical advice by Arcadis Germany GmbH in Cologne.
“The central location between the river and the historic town centre, the view of the cathedral and of the
Kranhäuser dockside buildings right next door, combined with very convenient access to public means of
transportation and the fact that the central railway station lies within walking distance, all this makes the
property an attractive office venue that has appealed to companies like Microsoft, Birkenstock and congstar.“
Nadine Robra, Teamleader Transaction Management Germany
HIH Invest Real Estate
“As usual, HIH Invest Real Estate proved a professional partner in initiating and implementing the
transaction. The experience has motivated both companies to deepen the business relations on other levels,
too.“
Tassu Degen, Managing Partner
DERECO
“The Property is a high-end office investment in one of Germanys Big 7 cities. The diversified tenant structure
of the multi-tenant property and its excellent location offer security and potential future development
opportunities.“
Oliver Scholtz, Senior Fund Manager
HIH Invest Real Estate
“We are very content with the signing, which was highly attractive to both parties. HIH Invest Real Estate thus
secured an asset in a premium riverside location in the Rheinauhafen area. The lease signings of the past 24
months also reflect the high quality of the site and of the property, which in its present form is superbly
positioned for the future.“
Marco Frank, Senior Investment Manager
DERECO