Corestate Capital Holding has acquired one of Colognes landmarks, former headquarter of perfume brand 4711, to realize an apartment hotel project with a projected market value after realisation of approximately €60m.
The re-development asset, located in the very dynamic district of Ehrenfeld, benefits from direct access to shopping amenities, various restaurants and bars, a gym, a park and enjoys very good access to public transportation.
Thomas Landschreiber, Chief Investment Officer of CORESTATE, comments: “This property is part of Barthonia Forum, a 70,000 m² mixed-use residential, commercial and retail area. Our property pipeline of Student Housing and any form of Micro Living is well filled and we are able to establish a very strong operational platform with long and stable revenues. Corestate’s longstanding experience and its extraordinary track record speak volumes.”