McDermott Will & Emery Advises on the Sale of Three Historic Office Buildings in the Industrial Quarter of Cologne-Mühlheim to Jamestown
Düsseldorf/Cologne, 11 November 2020 – McDermott Will & Emery has advised a private investor group represented by the Cologne-based family office Tresono on the sale of three historic office buildings in the up-and-coming Cologne district of Mülheim to the German-American real estate group Jamestown.
Built between 1890 and 1914, the buildings at Schanzenstraße 22, 24 and 28 offer an attractive mix of post-industrial architecture with red brick facades, white panels, high ceilings and large windows on a rentable area of around 34,500 square metres. Tenants include two universities and various multimedia and entertainment companies, including the television production company Brainpool TV and Radio Cologne. In recent years, the former industrial quarter of Mülheim has developed into a lively area that attracts companies looking for loft-like office space with industrial charm. Jamestown acquired the fully let properties, which will generate rental income of around 4.6 million euros in 2020.
McDermott and the family office TRESONO have been working together since 2019, and contact was established through the head of the real estate practice group, Dr. Jens Ortmanns.
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