L’Etoile Properties arranges debt finance and takes over management

L’Etoile Properties arranges debt finance and takes over management of the ex Lufthansa headquarter

Cologne, 09 October 2018 – Koreans buy former Lufthansa HQ in Deutz. Hyundai Asset Management has acquired the former Lufthansa headquarters in Cologne-Deutz for a Korean investors club led by Mirae Asset Daewoo. The 20,414 sqm building on Deutz-Mülheimer Straße 20/Von-Gablenz-Straße 2-6 is leased long-term to the Institute for Federal Real Estate (Bima). The seller is M&G Real Estate.

Hyundai was advised on this off-market transaction by Deloitte, Clifford Chance, and CBRE Preuss Valteq. L’Etoile Properties organized the financing and will take on the property and asset management. Postbank financed the deal.

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