Asset type	Operational
Location	Cologne
Capacity	153 units
TLA	3,180 sqm
Seller	Trei Real Estate
Buyer	BGO
Value	N/A

K115

Source: BGO

Located at Melatengürtel 113-115, the scheme comprises 153 student apartments, delivering a total residential area of 3,180 sqm.

Initially developed with an investment volume of €18 million, construction commenced in December 2015 and was completed in March 2017.

BGO is working with the operating partner Joint Venture consisting of N17 Projects and Callidus Real Estate Capital and engaged the leading PBSA operator CIV (NeonWood) on the operational management of the property.

Strategic context

This first investment underscores BGO’s commitment to tackling the acute shortage of purpose-built student accommodation across Germany’s leading university cities.

The strategy will focus on a mix of acquisitions, refurbishments and ground-up developments in key academic hubs.

BGO was advised by Savills (buy-side), EY (tax and structuring), as well as Greenberg Traurig and Simmons & Simmons (legal).