Completed in September 2023, OVUM comprises around 27,000 square meters of rental space and has been fully let since mid-2023. The campus in Cologne combines modern office space, retail space and a hotel spread across four buildings. The complex is complemented by a two-storey underground garage.
With its DGNB Gold and WiredScore Gold certifications, OVUM sets standards for sustainable and future-proof real estate projects in the west of Cologne.
A tranche of subordinated loans was also refinanced. Both financing arrangements replace the previous development financing arrangements, which consisted of a senior real estate loan and a subordinated loan.
The successful refinancing underlines the high quality and attractiveness of OVUM.
Ralph Esser, Managing Director of FAY Projects, says: “We would like to thank BayernLB for the trust they have placed in our product and its economic future. The OVUM is an excellent quality property and is fully let on a long-term basis. With the office tenants, most of whom come from the public sector, and the Rewe food market as a supplement for local supply, it offers a high level of investment security and is therefore excellently positioned in the current market environment.”
“This extremely pleasing milestone in this difficult market environment speaks for the quality of the OVUM asset, for the attractiveness of the quarter's location and is the result of
an extraordinarily constructive and resilient collaboration between Alfons & alfreda and FAY as well as BayernLB,” says a delighted Friedrich Weil, CEO and founder of Alfons & alfreda.
“We are delighted to be able to co-finance the gold-certified new OVUM office and commercial building following its completion. The property is characterized by a successful mix of high-quality office, retail and hotel space. The quarter represents an ideal development and addition to the up-and-coming Braunsfeld district and blends in perfectly with the district's architectural style, which is characterized by many buildings from the Wilhelminian era,” says Bernd Mayer, Head of Real Estate at BayernLB.
The project website is live!
With the launch of the official project website, we are now providing comprehensive information about our neighbourhood THE WID in Cologne-Ehrenfeld.
