Köln: Pandion Real Estate buys DEG headquarters in Müngersdorf district
DEG Deutsche Investitions- und Entwicklungsgesellschaft mbH sold its headquarters on Belvederestraße in Köln-Müngersdorf to Pandion Real Estate GmbH. DEG's headquarters has an administration building and two outbuildings on a lot of around 9.000 m². The disposal followed a structered sale process organized by the Cologne branch of Atisreal. By agreement, the price is being withheld. Pandion Real Estate plans to transform the buildings into an exclusive residential ensemble. DEG, an enterprise of KfW-Bankengruppe, will move with its 380 employees into a new building on Kämmergasse, in Cologne's city center, in August 2008.