Tristan Capital Partners has bought a building in Cologne for the European Property Investors Special Opportunities 3 fund.
The mixed-use Barthonia Forum asset was bought for EPISO 3 for 鈧�110m in a joint venture with .
The property, in Cologne鈥檚 Ehrenfeld district, includes 12 individual buildings including a shopping centre anchored by Kaufland. The 70,000 sqm site also includes the former factory of the 鈥�4711鈥� cologne and an additional 204 apartments.
Ali Otmar, managing director of Tristan Capital, said the investment gives EPISO 3 a 鈥渕ixture of ongoing cashflow as well as value-add asset management opportunities鈥�. The firm will, he said, look to reposition a number of properties on the site to offer 鈥渂etter accommodation for retail, residential and office tenants鈥�.
鈥淏arthonia Forum presents an opportunity to transform an inner-city square, a short walk from the centre of Cologne, into a vibrant quarter with an attractive retail, office and residential offer thanks to great tenant demand in this attractive micro-location in one of the largest and most dynamic German cities,鈥� Otmar said.
will advise the joint venture on asset management.
