Catella Real Estate AG added three office investments to its open-ended sustainable property fund. The acquisitions included two five-story buildings, totaling 86,000 sqm, in Frankfurt’s Rodelheim district. The third property offers around 8,000 sqm on five floors in Cologne’s Deutz Harbor area. That project is almost fully leased. KCD-Catella Nachhaltigkeit Immobilien Deutschland’s investment volume increased to €85m following the acquisitions. The seller was a Luxembourg-based fund. Catella was advised by DLA Piper UK LLP, while Arcadis Germany GmbH provided technical due diligence. The deal was brokered by Dr. Lubke & Kelber.
“Demand for modern office space in Frankfurt and Cologne remains unwaveringly high — supply is running short. The vacancy rate has dropped to below 8 percent in Frankfurt and 3.5 percent in Cologne by now. With our investment in three modern office buildings, we are securing a long-term stable cash flow for our investors,” said Henrik Fillibeck, managing director at Catella Real Estate AG.
