Wallarkaden: Luther assists pension funds in entering the Cologne real estate market
Five pension funds acquire the "Wallarkaden" at Cologne's Rudolfplatz from Momeni. The investors were given legal and tax advice by a team from Luther Rechtsanwaltsgesellschaft on the purchase of their first real estate project in Cologne.
The construction of an eight-storey office and commercial building is planned on the 2,244 m² project site located directly on Rudolfplatz in the city centre of Cologne. The design by the architecture firm Caruso St. John envisages a mix of office space, retail and gastronomy. The "Wallarkaden" is expected to be completed in 2021.
The forward deal with a volume of EUR 140 million is the first real estate project of the nationwide investing pension funds - Ärzteversorgung Niedersachsen, Sachsen-Anhalt, Mecklenburg Vorpommern as well as Tierärzteversorgung Niedersachsen and Steuerberaterversorgung Niedersachsen in Cologne. This market entry will now be followed by further projects.
For the pension funds:
Luther, Energy: Dr. Holger Stappert (Partner, ACR, Düsseldorf)
For Momeni SEG Rudolfplatz GmbH & Co. KG:
Jebens Mensching LLP: Bendix Christians (lead), Mareike E. Klopp, Dr. Oliver Mensching (Tax)