GEG German Estate Group AG acquired the Triforum office and hotel complex in Cologne, Germany, for more than €100 million.
The company, owned by Deutsche Immobilien Chancen and private equity company KKR Kohlberg Kravis & Roberts, bought the 25,000-square-meter asset from a fund managed by Institutional Investment Partners.
The complex comprises a four-star hotel let under the Park Inn by Radisson brand on a long-term lease and a 14-story office tower. In addition, there are restaurants, 12 conference rooms and other amenities.
BNP Paribas Real Estate, White&Case, DLA Piper, Drees & Sommer and HOTOUR Hotel consulting acted as advisers on the transaction. Internos Global Investors acted as transaction and asset manager for the seller.
