Hines has acquired a major new asset on behalf of the Hines European Core Fund (HECF), and has also announced Simone Pozzato as HECF’s fund manager.
The Friesen Quartier is a 25,173-square-meter (270,960-square-foot) mixed-use development featuring six properties in the heart of Cologne, Germany, which has been acquired from the joint venture between PROXIMUS Real Estate AG and Quantum Immobilien, for an undisclosed price.
The Friesen Quartier provides 12,000 square meters (129,167 square feet) of office space, 7,000 square meters (75,347 square feet) of residential and 2,000 square meters (21,538square feet) of leisure and retail that will include 460 underground car parking spaces, two daycare centers and outdoor areas.
This deal is the latest in a string of significant acquisitions for HECF with €1.1 billion ($1.3 billion) committed in the last 15 months alone, including the 30,000-square-meter (322,917-square-foot) portfolio of eight prime sites in Franc
