Dr. Jan Markus Plathner from the law firm Brinkmann & Partner, as insolvency administrator of the respective project companies, has sold four commercial properties from the so-called "LIMES" commercial real estate portfolio in Aschheim, Essen, Kassel and Cologne. CR Investment Management (CR) and Mellum Real Estate (Mellum) carried out the structured sale process of the properties. Both transaction advisors were jointly commissioned by the insolvency administrator to market the portfolio. The buyers are two project developers and a foundation from Germany with experience in the management and optimisation of existing properties.
Insolvency administrator Dr. Jan Markus Plathner says: "The structured sale process for the LIMES portfolio has been successfully completed despite the difficult market environment. The transactions show that there is still demand for commercial and mixed-use properties in established locations. The buyers are experienced, long-term investors who will develop the properties responsibly. The respective creditors' meetings have already approved the sales."
Claudius Meyer, Managing Director of CR Investment Management, comments: "The portfolio combines different types of use in good, established locations and has met with great interest. As a result, we were able to complete the transactions within 2025 and achieve a fair market price for the properties."
Tim Schulze Buxloh, Managing Director of Mellum, adds: "The buyers bring extensive experience and development expertise to successfully renovate and reposition the properties."
The commercial properties in Aschheim, Cologne and Kassel were sold together as an existing portfolio. The buyer is the Cosimo Group. The office building at Max-Planck-Straße 3 in Aschheim was built in 1999 and has a rental area of around 12,100 square metres. Tenants include companies from the electronics, software development and financial services sectors. The office and mixed-use building at Max-Glomsda-Straße 4 in Cologne-Ossendorf, which was built in 2006, has around 5,200 square metres of rental space. The resident tenants are mainly from the public sector, the automotive industry and testing and certification. The portfolio is complemented by the Kurfürstengalerie in the city centre of Kassel, a shopping centre with hotel and parking areas. The total lettable area of the property is 21,500 square metres. The hotel space is leased on a long-term basis to a renowned operator, and the new owner is responsible for the necessary renovation work.
The Bredeney office park in Essen, consisting of two components, was purchased jointly by companies of the Gustav Zech Foundation and the project developer die developer. The buildings, which were built in 1996, comprise around 46,500 square metres of rental space and 986 parking spaces. The future main tenant of the first component is the state of North Rhine-Westphalia, and the property will be extensively renovated before moving into the new Essen police headquarters. The implementation is carried out by developer. The second part of the building will be transferred to the Gustav Zech Foundation's portfolio in the long term as a fully let office building.
