EQT Real Estate has purchased Technologiepark in Cologne, Germany – a 116,155m² office park located in close proximity to Cologne’s central business district, for a purchase price of €188m.
This is EQT’s debut investment in the German real estate market. The acquisition comprises 7 different office buildings located within the park. Each building is accompanied with an element of parking, with a total of 2,863 spaces. The transaction has placed EQT in prime position to take full advantage of the demand and supply imbalances across Cologne, driving occupancy and rent.
Edouard Fernandez and Robert Rackind, partners and real estate co-heads at Investment Advisor EQT Partners, commented: “Technologiepark is a further example as to the breadth and depth EQT has in the European real estate market and the ability to successfully compete for sizeable deals at the highest level. This transaction highlights the variety of investments EQT is able to take on.”
Lennart Blecher, Deputy Managing Partner at Investment Advisor EQT Partners, and Head of EQT Real Assets, commented: “This deal in addition to the two Paris deals recently closed shows EQT's ability to ramp up and integrate a successful real estate strategy into its market-leading platform.”
