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GEG buys German complex for more than €100M

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.