IC Immobilien Gruppe concludes early 10-year extension of lease agreement with Adagio Aparthotel Köln City

IC Immobilien Gruppe has extended the lease agreement with Adagio Deutschland GmbH ahead of schedule by a further 10 years through to 2042.

Adagio Aparthotel Köln City is located in the heart of Cologne’s historic centre, directly between the two large squares Neumarkt and Heumarkt, and not far from interesting tourist magnets such as Cologne Cathedral and the Ludwig Museum. The hotel property was completed in 2012 and has 115 fully furnished hotel apartments with fully equipped kitchens.

Aparthotel, for which IC Immobilien Gruppe has also been mandated with the asset and property management, has a total leasable area of approx. 5,500 square metres. The owner of Adagio Aparthotel Köln City, as well as other properties operated by renowned hotel chains and which are all managed throughout Germany by IC Immobilien Gruppe, is a private investor.

“We are extremely pleased with this early and very lengthy lease extension as it reflects the satisfaction of the tenant and the trusts he places in this property”, says Markus Reinert FRICS, the Chairman and CEO of IC Immobilien Holding GmbH.