INTERNOS Global Investors, the pan-European real estate fund manager with €3.5 bn of assets under management, has acquired an office and retail building in Cologne for one of the funds it manages. The vendor is TRIUVA Kapitalverwaltungsgesellschaft mbH.
The building, dating from 1975 and refurbished in 2010, is at Händelstrasse 15/Jülicher Str. 2-6, in Cologne city centre. The seven-storey building has a lettable area of 4,563m², including 1,252m² of retail and 3,080m² of office space. The building is fully let, to tenants including a REWE supermarket and the State of North Rhine-Westphalia.
Close to the "Köln, Rudolfplatz" underground station, the property has excellent local public transport links.
Law firm Mayer Brown provided legal services, with Arcadis as the technical consultant. The deal was brokered by the Cologne-based Schoutz & Partner Finanz- und Wirtschaftsberatung.
Following two recent acquisitions, this is the third property to be acquired by INTERNOS on behalf of the fund it manages. It aims to invest a target volume of €100 million by 2018. Investments will be primarily in office or mixed-use properties in sustainable city centre locations in the Bonn - Cologne - Dusseldorf axis or in the Rhine-Main region. The focus is on assets with lot sizes in the €5 to 15 million bracket.