AEW announces that it has acquired the landmark office building ONE COLOGNE, which islocated at Venloer Straße 151-153 in the centre of Cologne, Germany. The asset was purchasedfrom Development Partner (Gateway Real Estate) and Patron Capital on behalf of a French institutional investor. The property comprises 15,600 sqm of high quality office space over 13 floors, with two roof terraces and basement parking for 253 cars. A full refurbishment was completed in 2019, and AEW has acquired the space fully let to four tenants including German airline Deutsche Lufthansa AG and Stadt Köln with a WAULT of 16.2 years.
Located at the intersection of two major arterial routes in Cologne’s CBD, the property benefits from transport links via rail and road. With a population of over 1 million, Cologne is Germany’s fourth most populous city and has a growing GDP.
Source : Company