Warburg-HIH Real Estate has inked a 鈧�350 mln deal for three development sites in the MesseCity K枚ln scheme in Cologne.
The vendors are joint venture partners Strabag Real Estate and ECE Projektmanagement. The transaction was structured as a club deal for institutional investors.
Three new office projects for Zurich Group are slated for the development sites West 1 to 3 with a total area of 60,000 m2.
MesseCity K枚ln will comprise 135,000 m2 of gross building area on completion, across a 5.4 hectare plot in Cologne's Deutz district.
Law firm Ashurst advised Warburg-HIH on the deal while White & Case advised Strabag and ECE.
JLL also participated as intermediary in the transaction.
