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Press Release

GEG Acquires “Triforum” in Cologne

Frankfurt, 08.12.2017

Frankfurt/Cologne, 8 December 2017 . GEG German Estate Group AG in Frankfurt am Main has just acquired the office and hotel complex Triforum in Cologne with a gross lettable area of around 25,000 sqm. GEG acquires the property from an investment fund (“Fund”) managed by Institutional investment Partners (“2IP”) for an institutional client. The transaction will close before year end. The total investment volume comes to over EUR 100 million. Internos Global Investors acted as transaction-and assetmanager for the Fund.

The hotel which is part of the complex has lettable area of 10,000 sqm and is leased under the “PARK INN by Radisson” brand on a long-term lease. The office property with its 15,000 sqm of lettable area is let long-term to high quality tenants with blue-chip credit ratings.

The property complex is situated in a well off neighbourhood not far from the town centre in the Innere Kanalstraße. The 14-storey office high-rise was first built in 1964 and has been renovated extensively several times since then. The hotel property (4-star hotel with 205 rooms) dates from 2001. In addition to gastronomy areas, the hotel building also includes 12 conference rooms together and a wellness area with gym. Today both properties are fully occupied. In recent years, the hotel lease agreement as well as several rental agreements have been extended. Significant improvements measures are being carried out.

The transaction was facilitated in advisory roles by BNP Paribas Real Estate, White&Case, DLA Piper, Drees & Sommer, and HOTOUR Hotel consulting.

Ulrich Höller, CEO of GEG: “With this acquisition in our strategic Institutional Business segment we enhanced our portfolio by adding another attractive property with a first-class location and stable cash flows.”

Jochen Schäfer-Suren, Managing Director IKVG and Partner responsible for hotel and Leisure at Internos: “We are pleased to have successfully pursued this transaction with GEG as part of our Value Add Strategy for the Triforum hotel and office complex”.


About GEG German Estate Group AG
Based in Frankfurt am Main, GEG German Estate Group AG has positioned itself as one of Germany's leading investment and asset management platforms in the commercial real estate sector. Its investment focus and investment policy concentrate on three segments: institutional business, opportunistic investments, and property developments. Within the framework of this clearly defined strategy, GEG has consistently exploited its opportunities ever since it was founded in 2015, building up an extensive, diversified real estate portfolio with approximately EUR 2.3 billion in assets under management today. In addition to landmark properties like the IBC Campus office complex and the Villa Kennedy luxury hotel in Frankfurt, these include the Sapporobogen office building in Munich, property developments like the MainTor urban quarter, the Global Tower and the RIVERPARK Tower in Frankfurt, Opera Offices in Hamburg, and the Junges Quartier Obersendling complex in Munich. A long-term track record and the outstanding reputation of the management along with an experienced team of highly qualified professionals serve as foundation for a leading position in the market. The two shareholders of GEG German Estate Group AG are the Frankfurt-based Deutsche Immobilien Chancen group and KKR Kohlberg Kravis & Roberts, a globally leading investment house with commitments in asset classes like private equity, infrastructure and real estate. Chairman of GEG’s management board is Ulrich Höller.

For more details on GEG, please go to www.geg.de.

About Internos Global Investors ltd
Since its formation by Andrew Thornton and Jos Short in 2008, Internos has become a significant pan-European investment manager with offices in London, Frankfurt, Amsterdam, Paris, Lisbon, Luxembourg, Madrid and Milan with approximately 100 employees and commercial property investments in 11 countries, €3.5 billion under management and its earliest funds dating from 2005. Internos has expertise across the real estate asset classes and major European markets.
For more details on Internos, please visit www.internosglobal.com/

About the Fund
The Fund is in the form of a German “Spezialfonds” for a German institutional investor provided by Institutional Investment Partners. Internos manages a hotel real estate specific mandate within this Master fund for a total of €200 million of hotel real estate investments with a value add strategy.



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