Coeur Cologne

In central Cologne, early 2010s, a block comprising several buildings constructed between 1958 and 1975 was in desperate need of rejuvenation. The properties on the site were both obsolete and energy inefficient.

PIMCO Prime Real Estate’s solution, in 2013, was to begin a €50 million renovation project to create a modern, sustainably operated office asset. Fast forward to 2017 and, reborn as Coeur Cologne, the single new building boasts a combination of innovation and sustainability, while the emphasis on user work-life balance makes it a great example of a future-focused office.

The project increased lettable area within Coeur Cologne by approximately 70% to 15,000 sqm. The standout features of the building include its 20-metre high lobby and a planted Skygarden, which offers unparalleled views to the center of Cologne including the world-famous cathedral.

Environmental concerns were central to the redevelopment in that only low-carbon materials have been used while its energy is derived from 100% renewable sources; the heating and cooling ensures a user-friendly indoor climate while the architectural concept of the building ensures as much natural light as possible into all floors. As a result, Coeur Cologne was Gold-certified by the German Council for Sustainable Buildings.

The asset was 100% pre-let on a long-term lease contract more than a year and a half prior to completion. At stabilization, the value of the asset had increased by almost 70%. Coeur Cologne today is an asset that meets the needs of its tenants and users, and which has created value for our clients.