Values acquires office ensemble in Cologne for public sector fund

Germany's Values Real Estate has acquired a two-part office complex in Cologne-Müngersdorf for its Values public sector fund. The asset comprises the former RTL building with film studios at Aachener Straße 1042, which was extensively renovated in recent years after the TV channel moved out. 

Financial details were not disclosed.

The sellers are the GS Immobilien Gruppe from Cologne and PS Investment Management GmbH from Königstein. The office building comprises almost 20,000 m2 of rental space with more than 700 parking spaces. The property also offers very good infrastructure connections.

The main tenant is the city of Cologne with the public order office as end-user, which has signed a new, long-term lease. Offices, conference, training and recreation rooms are housed on a total of ten floors.

The second tenant is the German Bone Marrow Donor File (DKMS), which also has a long-term lease. The WALT of the property is 17.5 years. The closing took place on 1 February, 2023. CBRE brokered the sale.

'The property is an excellent addition to our Values Public Sector fund in terms of diversification, building quality and lease terms,' said Thilo Wagner, managing director for the Health & Social Infrastructure division.

He added: 'For our investors, the long-term-oriented and stable cash flow for resilient tenants even in times of crisis.'

More than 30 institutions from the savings and cooperative banking sector invest in the Values public sector fund. The planned fund volume is around €550 mln. 'The combination of an investment with a social impact and secure rent payments by the rental clientele of public tenants convinces institutional investors, especially in confusing times,' Wagner added.

Values was legally supported by Hogan Lovells International, Hamburg. The seller was accompanied by Tyskret Sagawe & Klages Rechtsanwälte, Hamburg, and Hauck Schuchardt, Frankfurt.



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