aam2core Holding AG and NREP have acquired the "Project Meran" residential portfolio in Cologne-Ehrenfeld through an asset deal. This marks the first investment under their joint venture focused on value-added opportunities in Germany’s residential market. The seller, a Swiss real estate investor, remains undisclosed.
Strategic Investment in Cologne’s Housing Market
Built in 1965, the property consists of 83 residential units with an average size of 62m2. It also offers 3,100m2 of additional residential development potential following recent planning approvals.
The project will undergo a comprehensive energy-efficient refurbishment to align with KfW 55 EE standards. Renovations will include upgrading vacant apartments and expanding the site through new construction.
Commitment to Sustainable Urban Development
Jens Ebert, member of the management board at aam2core, emphasized the firm’s growth strategy:
"With the acquisition of 'Meran,' we are reinforcing our commitment to sustainable residential assets with strong development potential. This investment brings us closer to becoming a leading asset manager in the residential real estate market."
Paul Hohenstatt, head of residential investments at aam2core, added:
"By integrating energy-efficient refurbishment with new development, we create long-term value for investors and contribute to sustainable urban growth in a constrained housing market."
NREP, which has now entered the German market, also sees strategic value in the deal.
Björn Munte, vice president at NREP, stated:
"This transaction is a key milestone for NREP in Germany. Partnering with aam2core aligns with our focus on sustainable residential development and unlocking market potential."
Market Outlook & Transaction Advisory
Germany’s residential sector continues to attract institutional investors, particularly for sustainability-driven refurbishments and urban expansion projects. The deal was facilitated by JLL, who advised the seller.
