English translation of the original German press release.

The Arminius Group, an investment manager specialising in sustainable commercial real estate, has acquired the new office building project development 'EhrenWert' in Cologne's Ehrenfeld district. The building, scheduled for completion in Q4 2021, comprises around 10,100 sqm of rental space and over 120 parking spaces. The property has already been fully leased to the main customs office in Cologne on a long-term lease. The new building has modern and efficient floor plans, flexible space divisibility and an attractive appearance. It was agreed not to disclose the purchase price.

The seller is a project company of Stefan Frey AG and CONVALOR GmbH. Nessel Bau GmbH is the general contractor for the property, which is still under construction.

Jesko Fink, Managing Director of Arminius Kapitalgesellschaft mbH, said: 'With the EhrenWert property, we have acquired another attractive office property in an up-and-coming location, which also achieves a high value in our ESG scoring.'

The Cologne district of Ehrenfeld will continue to gain in attractiveness in future due to the many new, high-quality office and residential developments and its excellent infrastructure. We will support the property and its tenants over the long term with our active ESG asset management approach.

The acquisition of the EhrenWert project development is the Arminius Group's fifth transaction in Germany this year. Other properties acquired in 2020 include the Schenck Process Europe headquarters (Darmstadt), the PepsiCo headquarters (Neuss-Isenburg), Stuttgart Tor (Stuttgart) and TheReed (Frankfurt).

The Arminius Group focuses its investments on office properties across the entire risk/return spectrum in the top 12 cities in Germany and in suitable metropolitan areas. The minimum investment volume is €20 million.

KUCERA Rechtsanwälte Steuerberater Partnerschaft mbH advised the buyer on legal and tax matters. The technical due diligence was carried out by DU Diederichs Projektmanagement. ZIRNGIBL Rechtsanwälte Partnerschaft mbB and BNP Paribas Real Estate GmbH advised the seller.