Acquisition
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11/14/2018 Swiss Life Asset Managers acquires part of the "Cologneo I" neighbourhood development in Cologne for real estate special-AIF

  • Seller is a company of the Berlin based CG Gruppe AG
  • The "Cologneo I" is part of the 2014 master plan "Mülheimer Süden"
  • Cologne-based CORPUS SIREO Real Estate will be responsible for the asset management of the acquired development

Swiss Life Kapitalverwaltungsgesellschaft mbH (Swiss Life KVG), in cooperation with CORPUS SIREO Real Estate, Cologne, has acquired the "Cologneo I" neighbourhood development in Cologne. The properties will be transferred to an open special real estate AIF. CORPUS SIREO Real Estate in Cologne will take on the asset management of the purchased development. The seller of the portfolio is a company of CG Gruppe AG, Berlin. The purchase price amounts to EUR 241.5 million.

Six 5 to 7-storey new buildings and renovated buildings with the following types of use were acquired: residential (484 units on approx. 33,320 square meters), office (almost 8,800 square meters), commercial/retail (approx. 4,500 square meters), hotel (175 rooms) and parking (425 parking spaces). A 1,000-square-meter child care facility is also being built, which has already been leased to a leading operator.
Cologneo I", located on Deutz-Mülheimer Strasse, is part of the "Mülheimer Süden" master plan launched in 2014. A large part of the space was previously used for industrial purposes and is now to be used for new purposes. In the medium term, a new urban quarter for almost 10,000 people will be created. The area extends the adjacent, existing residential development "Stegerwaldsiedlung", which has been an established residential location for over 60 years and has been significantly upgraded in recent years through comprehensive modernisation measures.

Neighborhood development of the future

"This purchase offers to our investors an excellent opportunity to participate in this groundbreaking project for the City of Cologne. Cologneo is a successful example of the transformation of former industrial sites into sustainable, urban residential and service areas. The project offers a convincing mix of living, working and leisure and combines modern architecture with living comfort and the industrial roots of the area," says Bernhard Berg, CEO of CORPUS SIREO Real Estate.
Jürgen Kutz, CEO of CG Gruppe AG, adds: "Cologneo is a typical product from the core business of the CG Group: development and construction of urban quarters in major German cities. The successful placement of a first large subdivision with an institutional investor simultaneously marks the start of the further planning and construction phases on our Deutz-Mülheim site - the district on the right bank of the Rhine in Cologne in which urban transformation is lived.”

Image Credits:
CG Group, © kaderwittfeldarchitektur

Disclaimer
This press release does not constitute a solicitation or recommendation to buy or sell any investment instruments and is for information purposes only. The funds may only be acquired in the country and for the type of investor mentioned in each case.

Further Information

Swiss Life Asset Managers

Swiss Life KVG
Yvonne Hoberg, Director Public Relations
Phone: +49 221 39 90 0 120
yvonne.hoberg@swisslife-am.com

About Swiss Life Asset Managers
Swiss Life Asset Managers has more than 160 years of experience in managing the assets of the Swiss Life Group. This insurance background has exerted a key influence on the investment philosophy of Swiss Life Asset Managers, which is governed by such principles as value preservation, the generation of consistent and sustainable performance and a responsible approach to risks. Swiss Life Asset Managers offers this proven approach to third-party clients in Switzerland, France, Germany, Luxembourg and the UK.
As at 30 June 2018 assets under management for third-party clients amount to EUR 55.8 billion. Together with insurance assets for the Swiss Life Group, total assets under management at Swiss Life Asset Managers stood at EUR 194.4 billion.
Swiss Life Asset Managers is the leading real estate manager in Europe1. Of the assets totaling EUR 194.4 billion, EUR 47 billion is invested in real estate. In addition, Swiss Life Asset Managers has real estate under administration of EUR 25.2 billion through its subsidiaries Livit and Corpus Sireo. Through its capital management company Swiss Life KVG, Swiss Life Asset Managers also offers regulated real estate special funds and mutual funds for institutional and private investors from one of its core markets in Germany. Total real estate under management and administration at the end of June 2018 thus came to EUR 72.2 billion.
Swiss Life Asset Managers employs about 1600 people in Europe.
1 PropertyEU, Top 100 Investors, October 2015, 2016 and 2017

About CORPUS SIREO
CORPUS SIREO is an award-winning multidisciplinary real estate service provider. The company acts as a fund and asset manager, investor and project developer in Germany and other European countries. It also acts as a co-investment partner for pan-European real estate investments. CORPUS SIREO has around 560 employees at 10 locations in Germany and Luxembourg and is part of Swiss Life Asset Managers. With local companies in Switzerland, France, Germany, and the UK, Swiss Life Asset Managers has real estate assets under management with a total value of €72.2 billion (as of 30 June 2018). CORPUS SIREO manages special funds with a current volume of €3.1 billion. The company has expertise and its own presence in German regional markets and in the healthcare property fund sector, where the company is one of Germany’s leading suppliers.

Best regards

Yvonne Hoberg
Director | Public Relations

CORPUS SIREO Real Estate GmbH
Tel. +49 221 39900120 Mobil +49 170 2262028

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Yvonne Hoberg

Yvonne Hoberg Public Relations

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© 2019 CORPUS SIREO
http://www.corpus-sireo.com/en/presse/press-releases/presspages/2018/2018-11-14-swiss-life-asset-managers-erwirbt-teil-der-quartiersentwicklung-colognea-i-in-koeln
: 21.03.2019