Swiss Life buys retail property in prime Cologne location
The German branch of Swiss Life has acquired a core retail property in a prime location in Cologne. The seller is DERECO, a multi-family office for real estate assets.
The property comprises 2,000 sqm of rental space and is located directly in the transition between the trendy Ehrenstrasse location and the prime Breite Strasse location. The building is situated in a corner location opposite Willy-Millowitsch-Platz and in the visual axis of Apostelnstrasse. The main tenant of the retail space is the Apple retailer Gravis.
The parties agreed not to disclose the purchase price. The sale took place by way of an asset deal. After the transfer of ownership, the property will be managed by the asset management of Swiss Life subsidiary Corpus Sireo Real Estate.
The buyer was advised legally by Stock Aders Klein + Partner, fiscally by Dornbach GmbH and technically by Brand Berger. Legal advice to the seller was provided by Loschelder Rechtsanwälte and tax advice by Ecovis.
