Completed in September 2023, OVUM comprises approximately 27,000 square meters of rental space and has been fully leased 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-story underground parking 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.
In addition, a tranche of subordinated loans was also refinanced. Both tranches replace the previous development financing, which consisted of a senior and junior loan.
The successful refinancing underscores the high quality and attractiveness of OVUM.
Ralph Esser, Managing Director of FAY Projects, says: "We are grateful for the trust that BayernLB has placed in our product and its economic future. OVUM is an excellent quality property and is fully let on a long-term basis. With office tenants mainly from the public sector and the Rewe grocery store providing local amenities, it offers a high level of investment security and is therefore excellently positioned in the current market environment."
"This extremely gratifying milestone in this difficult market environment speaks for the quality of the OVUM asset, for the attractiveness of the neighborhood's location, and is the result
an exceptionally constructive and resilient collaboration between Alfons & alfreda, FAY, and BayernLB," says Friedrich Weil, CEO and founder of Alfons & alfreda.
"We are delighted to be able to co-finance the gold-certified 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 is an ideal addition to the up-and-coming Braunsfeld district and blends in perfectly with the architectural style of the district, which is characterized by many buildings from the Wilhelminian period," says Bernd Mayer, Head of Real Estate at BayernLB.
