Together, the two buildings have a rental area of around 8000 square metres and a plot size of over 4600 square metres. Rental area of just under 8000 m².
Swiss Life Asset Managers has sold two office buildings at Clever Strasse 36 and the adjacent Mevissenstrasse 3 in Cologne. The buildings were sold as part of an asset deal for SL AM Aurum GmbH & Co. KG. The buyer is an open-ended French investment fund represented by AEW Invest GmbH.
One of the two buildings is also the new head office of Swiss Life Asset Managers in Germany, which remains the anchor tenant of the property with a long-term 15-year lease. It has been agreed not to disclose the pur-chase price.
“This transaction is further proof of our extensive exper-tise and experience in the placement of office proper-ties. We are handing over high-quality properties in prime condition, characterised by flexible use and a good location on the banks of the Rhine,” says Anett Barsch, Head of Real Estate Project Development and member of the Executive Board of Swiss Life Asset Man-agers in Germany.
“We have achieved a great success for our development area. We have managed to achieve an enormous in-crease in value compared to the total investment costs on acquisition. In view of the complex market situation, this sale once again underscores the performance of Swiss Life Asset Managers as a project developer. With our long-term concepts and good cooperation, we are creating important building blocks for future project developments,” sums up Johann Pfeifer, Director of Transaction Commercial & Residential at Swiss Life As-set Managers.
The property at Clever Strasse 36 was built in 1937 and is a listed building. The second building at Mevis-senstrasse 3 was built in 1979. Both buildings were fully renovated in 2022, when the e-charging infrastructure was extensively expanded and space was created for 70 bicycle parking spaces. A service station for the repair of bicycles is planned. By means of the installation of a modern building management system, ventilation and cooling were also coordinated and optimised for energy efficiency.
The buildings were purchased in 2016 as part of a large portfolio (former Zurich Insurance site) and converted within two and a half years and almost entirely let using a construction-manage-to-core approach.
Marketing commenced at the beginning of May 2022 and the properties were sold through a structured pro-cess within the set timeframe of four and a half months.
Contact
Communications, Swiss Life Asset Managers, Germany
Stephan Pacho
Phone: +49 69 240031 447
media-de@swisslife-am.com