12-16-2021News

Union Investment acquires Cäcilium in Cologne with Heuking

A team led by Dr. Henrik Lay, Partner at Heuking Kühn Lüer Wojtek, advised Union Investment on matters of tax law in relation to the acquisition of the Cäcilium office building in Cologne by way of a share deal. The building was acquired for the holdings of special real estate fund UII German Prime Select.

Constructed in 2009, Cäcilium benefits from an excellent location in Cologne city center. The building offers around 19,380 square meters of rental space across six upper floors and two basement levels. 141 parking spaces are available in the dedicated underground car park. The property has DGNB Gold certification and is leased to ten different tenants. The main tenants include Allianz insurance group, major bank BNP Paribas and management consultancy KPMG.

Union Investment has stood for forward-looking real estate investment worldwide for more than 50 years. With assets under management in open-ended mutual real estate funds, special funds, and as part of service and bundling orders of some EUR 50 billion, Union Investment is one of Europe’s leading real estate investment managers. In addition to tax advice from Heuking Kühn Lüer Wojtek, a team from Hogan Lovells led by Hamburg-based Partner Dirk Debald legally advised on the transaction.