The Log In Krefeld property (visualised here) is our second investment in Krefeld's city centre. It is situated in a prime location directly opposite our already fully let City Colonaden Krefeld. The old building, which was no longer usable, has been torn down to make way for a mixed-use building, mainly consisting of offices and services. An anchor tenant was already secured in September 2021. 1&1, a large company in the telecommunications industry, has rented large parts of the space of the upper floor levels, to be used for customer care and operations. In December 2021, the health insurance group AOK signed a long-term lease contract for a significant part of the ground floor space.
The total investment for the Log In Krefeld building will amount to around € 29 million. The development time until completion of the new building is estimated at 30 to 36 months.