Deutsche Investment has acquired an office property for its real estate special AIF, “Deutsche Investment – Buro I.” Originally built in 1955, with an annex added in 1972, the office building is located on Stolberger Strasse in Cologne-Braunsfeld. Its most recent full revitalisation was only completed in 2020. It was sold by Auric Investment GmbH. The purchase price was not disclosed.
The multi-tenant property provides around 4,700m² of effective floor area and is fully tenant-occupied. Offices and labs take up around 79% of the lettable area, while another 5% are used as archives. The remaining 16% of the floor area are occupied by a gym. The Braunsfeld borough of Cologne is evolving from a former business and working-class neighbourhood into a trendy district that attracts new types of business, and that has lately seen the development of high-end residential quarters for the creative digital scene. Braunsfeld borders on the parklands of Kolner Stadtwald, one of the city’s largest connected green areas, perfect for recreational activities.
“As a business location, Cologne-Braunsfeld offers capital growth and sustainable appreciation potential in the wake of various property developments and the concomitant demand for office accommodation,” said Enver Büyükarslan, the main shareholder of Deutsche Investment KVG. “Moreover, the micro-environment is defined by convenient access to the road and motorway network as well as to the public mass transit system. Aachener Strasse, an artery passing nearby, ensures that the commute to the town centre of Cologne takes mere minutes."
“Reasons that convinced us to buy this office property, in addition to the attractive location, included the sound building fabric and the timelessly modernist architecture of the building, which was refurbished only last year, and its diversified tenant structure,” added Klaudia Spychala, Transaction Manager at Deutsche Investment KVG.