Swiss Life, advised by Heuking, sells office complex in the center of Cologne to AEW
December, 2022 - Germany
A team led by Heuking Partner Dr. Peter Zimmermann advised Swiss Life Asset Managers on divesting an office complex, selling it to a fund managed by AEW. The buildings were sold as part of an asset deal for SL AM Aurum GmbH & Co. KG. The parties agreed not to disclose the purchase price.
The two-part building at Clever Straße 36 and adjacent Mevissenstraße 3 had been completely revitalized earlier this year, preserving the listed facade and staircase. The renovation focused on sustainability, specifically with respect to building technology. Swiss Life Asset Managers, which has its headquarters at the site, is the main tenant and entered into a 15-year lease agreement. The property has an area of some 8,000 square meters, with parts leased to other tenants from various sectors.
Swiss Life Asset Managers is a well-known and reliable European asset manager and a leading institutional real estate asset manager in Switzerland, France, Germany, Luxembourg, the UK, and the Nordic countries. More than 2,500 employees work for Swiss Life Asset Managers in Europe. They provide services and develop tailored investment strategies for their own insurance companies as well as for third-party clients such as pension funds, investment foundations, asset managers, and private clients. The team led by Dr. Peter Zimmermann regularly advises Swiss Life Asset Managers on comparable transactions.
Counsel to Swiss Life Asset Managers
Heuking Kühn Lüer Wojtek:
Dr. Peter Zimmermann (Lead, Purchase Contract negotiations),
Mathis Dick, LL.M. (general Due Diligence and Contract Drafting for parking space management),
Sandra Janberg (Due Diligence in areas relating to public law),
Dr. Marc P. Scheunemann, LL.M. (Transaction Advice), all Düsseldorf
Counsel to AEW
Ashurst:
Dr. Liane Muschter
