AEW, on behalf of a German insurance group, has acquired a prime mixed-use asset in the center of Cologne through a forward-funding agreement with Development Partner AG.
The project, Haus Am Rudolfplatz designed by the renowned architect Max Dudler, will comprise a total of 8,852 square meters (95,282 square feet) and is expected to complete in spring 2022. The purchase price was not disclosed.
Haus Am Rudolfplatz is a major construction project that will deliver 5,789 square meters (62,312 square feet) of class A office space and 2,773 square meters (29,848 square feet) of retail or food and beverage space, as well as storage facilities and 34 underground car parking spaces, over a total of eight floors. It is located at the heart of Cologne’s old town next to the historical Hahnentor, adjacent to a major road and public transport intersection and on the edge of the city’s main shopping area.
Tobias Schnurer, director of investment at AEW, said, “This pr
