ARQIS has advised Landmarken AG, a project developer based in Aachen, on the sale of the new office building “KITE” in Cologne-Ossendorf to Warburg-HIH Invest Real Estate. The sale is made by way of a funding transaction. The parties have agreed not to disclose the purchase price.
The new office building is a six-storey property with a total rental area of 22,800 m² and 477 parking spaces, which will be transferred to an individual fund of Rheinische Versorgungskassen Köln (RVK). Green-Building DGNB Gold certification is being sought for the property. The building with a direct underground connection is located in Rudi-Conin-Straße on the former Butzweilerhof airport site, which is one of the largest new housing developments in Cologne. A quarter with apartments, commercial and office properties is being built on the 55 hectare site. Around 5,000 people are expected to live and work in the mixed-use quarter by 2022. Currently, 400 companies are already based in the quarter, including Coca-Cola and UPS.
Landmarken AG has been realising projects in the areas of office and special real estate including administrative buildings, laboratory and research properties, hotel projects, special and listed properties or entire neighbourhood developments with a heterogeneous range of uses for over 30 years and with a current market value volume of 1.5 billion euros. In addition, Landmarken AG develops social and high-quality residential areas. In the retail sector, the portfolio ranges from revitalisation to new construction, from specialty shopping centres to inner-city department stores and the development of innovative retail concepts.
ARQIS regularly advises Landmarken AG on issues regarding real estate law, especially on the disposal of property developments.
Advisors to Landmarken
ARQIS Rechtsanwälte (Duesseldorf): « Dr. Ulrich Lienhard » (Lead; Real Estate); Associates: Jennifer Huschauer (Real Estate)
Dr. Neumann Schmeer und Partner (Aachen): Rolf Breuer (Tax)
Advisors to Warburg-HIH Invest
Ashurst (Frankfurt): Dr. Liane Muschter (Lead; Real Estate), Dr. Anders Kraft (Tax); Senior Associate: Sven Nickel (Real Estate); Associates: Raphaela Schmidt (Real Estate), Carina Park (Tax); Paralegals: Isabella Strauß, Nico Antoni (both Real Estate)