AEW, on behalf of its City Office Germany Fund, has acquired Novo|M, an office led mixed-use building on Neumarkt in Cologne, Germany, from Indigo Invest.
Built in 1962 and comprehensively refurbished by Indigo Invest in 2013 and 2018, the property offers 8,200 square meters (88,264 square feet) of total lettable area in the heart of downtown Cologne. The building extends over four upper floors of offices, retail space on the ground floor and two basements used for storage purposes. The mixed-use building, which is currently fully let to 10 tenants from a diverse mix of industries, is in a central location in the Old Town South at one of the city’s most important public transportation links and close to numerous food and beverage and retail offers.
The fund, a German real estate Spezial-AIF, targets office properties with the potential to create further value in established and developing areas across Germany’s top six cities.
