McDermott Will & Emery advised a private investor group represented by the Cologne-based family office Tresono on the deal.
The German-American real estate group Jamestown executed the acquisition of three historic office buildings in the up-and-coming Cologne district of Mülheim.
Built between 1890 and 1914, the buildings at Schanzenstraße 22, 24 and 28 offer an attractive mix of post-industrial architecture with red brick facades, white panels, high ceilings and large windows on a rentable area of around 34,500 square metres. Tenants include two universities and various multimedia and entertainment companies, including the television production company Brainpool TV and Radio Cologne. In recent years, the former industrial quarter of Mülheim has developed into a lively area that attracts companies looking for loft-like office space with industrial charm. Jamestown acquired the fully let properties, which will generate rental income of around 4.6 million euros in 2020.
The McDermott team was led by Dr. Jens Ortmanns (Picture) and Dr. Pierre-André Brandt and included Dr. Heiko Kermer, Marcus Fischer, Dr. Alexa Ningelgen, Renate Prinz; Associates: Dr. Mara Sonnenberg, Johanna Leitzke-Schmid, Mirjam Büsch, Lene Niemeier, Carina Kant.
Involved fees earner: Pierre-André Brandt – McDermott Will & Emery; Mirjam Büsch – McDermott Will & Emery; Marcus Fischer – McDermott Will & Emery; Carina Kant – McDermott Will & Emery; Heiko Kermer – McDermott Will & Emery; Johanna Leitzke-Schmid – McDermott Will & Emery; Lene Niemeier – McDermott Will & Emery; Alexa Ningelgen – McDermott Will & Emery; Jens Ortmanns – McDermott Will & Emery; Renate Prinz – McDermott Will & Emery; Mara Sonnenberg – McDermott Will & Emery;
Law Firms: McDermott Will & Emery;
Clients: Tresono Family Office;