The Dutch company Jan A. De Boer B.V., Haren, has purchased a property in the Cologne pedestrian precinct (Breite Straße) for its German portfolio from the Incity Immobilien AG, Cologne. The property was only acquired from the Incity AG in June 2007 and is located opposite the Opern-Passagen. With the mixed-use property, the Dutch company has already purchased its third city centre property in Germany. All the transactions so far have been arranged by DEGEN Consulting, Cologne. In addition to conventional retail use, the current German portfolio of approx. 50 million euros also includes office, residential and care components. Jan A. De Boer B.V. already owns an extensive portfolio of city-centre retail properties in the Netherlands.

The mixed-used property in the city centre of Cologne is biggest single property in Germany bought by the company so far. The volume of this transaction was 20 million euros. After completion of the planned reconstruction, which includes the revitalization of the side building and the demolition of the existing corner building with a subsequent new construction, the property will be handed over at the end of 2009. In addition to retail trade space and apartments, the property offers a large amount of office space and has a total rental space of approx. 3800m². The SEB bank is the main tenant and has concluded a long-term tenancy agreement. DEGEN Consulting, Cologne, which also acted in an advisory and mediatory capacity in this transaction, is currently examining further properties for possible acquisition.