Frankfurt am Main, 16 November 2023 - Frankfurt-based aam2core Holding AG is continuing its expansion course and has successfully acquired a residential complex in the north of Cologne.
The property comprises a total of around 90 residential units with a total rental area of around 5,500 m², divided into approximately 20 apartment buildings, and extends over a generous plot of more than 11,000 m². This property is complemented by 25 outdoor parking spaces. The purchase price has been kept confidential and remains between the parties.
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The residential neighbourhood, which dates back to 1960 and is almost fully let, marks a significant step in the continuous growth strategy of aam2core Holding AG. This is the first time that aam2core has purchased the portfolio entirely on its own balance sheet.
Paul Hohenstatt, Head of Residential Investments at aam2core, explains: "With the acquisition of this residential complex in Cologne, we are expanding our portfolio in North Rhine-Westphalia to include properties with exceptional potential for value appreciation. Our plans include comprehensive energy refurbishment measures to raise the buildings to the level of a KFW 55 EE efficiency house."
Michael Schleich, Member of the Executive Board at aam2core Holding AG, underlines the importance of this acquisition: "This transaction is a further step in our strategy of investing in high-growth property markets in major German cities. Our aim is to utilise the full potential of these properties through targeted measures and thus create long-term value."
The residential quarter is located in close proximity to the picturesque banks of the Rhine, and Cologne city centre can be easily reached in less than 20 minutes by car. This undoubtedly represents an additional attraction for potential tenants.
The transaction was accompanied by ADFUTURA Immobilienmanagement GmbH and continues the successful course of aam2core Holding AG by further expanding its presence in attractive property markets.
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Press release from 16 November 2023 Süheda Zock Marketing Manager investor-relations@aam2core.com