Ashurst advised HIH Invest Real Estate (HIH Invest) on the acquisition of an office scheme in Rheinauhafen area in Cologne from Rheinauhafen Real Estate CCAA. HIH Invest acquired the property by way of an asset deal on behalf of an individual fund. The parties have agreed not to disclose the purchase price.
Completed in 2008, the multi-tenant property at Im Zollhafen 2-4 has more than 7,300 sqm of lettable area, of which 910 sqm are let as gastronomy area. The remaining floor space represents office units with a diversified tenant structure. The asset quality is tantamount to new-build with high-end fit-out features in a central location and includes an underground car park with 77 parking spaces. The conveniently located office venue is situated in an attractive location on the bank of the Rhine in the economic and cultural metropolis of Cologne.
The Ashurst team was led by partner Dr Liane Muschter. She was assisted by senior associate Sven Nickel, associates Raphaela Schmidt and Susanne Schaad as well as transaction lawyers Isabella Strauß and Dominic Boeschen (all Real Estate). Partner Dr Anders Kraft and associate Steffen Bellmann provided advice on tax law aspects. Counsel Dr Maria Held advised on antitrust law.
HIH Invest is one of the leading investment managers for real estate in Germany and Europe. Currently, assets with a volume of €14bn are being managed across 81 funds. Ashurst regularly advises HIH group.
