Union Investment has acquired the Cäcilium building in Cologne for the holdings of special real estate fund UII German Prime Select. Constructed in 2009, the office building at Cäcilienkloster 2, 4, 6, 8, 10 benefits from an excellent location in Cologne city centre. The purchase price was not disclosed.
The building is easily accessible by car and by public transport. The junction of Neuköllner Straße and Pipinstraße/Cäcilienstraße is immediately in front of the building, providing access in a westerly direction to the A1 motorway and to the A4 motorway in the east. Neumarkt Square with all major public transport links is also just a few minutes’ walk away. The busy Schildergasse shopping street and a wide range of inner-city restaurants and cafés are likewise within easy walking distance.
Cäcilium offers around 19,380 sq m of rental space across six upper floors and two basement levels. The design of the building is very flexible, supporting both smaller units and larger scale letting. More than 141 spaces are available in the dedicated underground car park.
The building is let to ten different creditworthy tenants. The main tenants include the Allianz insurance group, major bank BNP Paribas and management consultancy KPMG. The broad mix of sectors and users creates a high level of income stability.
Source : Union Investment