02.09.2026

Patron Capital and INBRIGHT JV acquire 14,700 sq m Cologne Niehl light industrial asset for ESG-led refurbishment

London/Cologne, 02 September 2026 – Patron Capital, the pan-European real estate investment manager and investor focused on property and property-backed investments, and its partner INBRIGHT, the specialist light industrial and logistics investor, developer and asset manager, have acquired a 14,700 sq m GLA light industrial property in the northern Cologne district of Niehl, Germany, from Rhenus SMG for an undisclosed price. The asset, originally constructed in 1999 and 2002 on a 27,706 sqm site, comprises four warehouses totalling 14,050 sq m and two separate office units with a total of 650 sq m.

The deal marks the seventh investment in Germany and the ninth overall as part of the joint venture (JV) between Patron and INBRIGHT that was created to build a portfolio of sustainability-focused logistics, warehouse and distribution assets in well-connected industrial hubs in Germany and Portugal.

*Image: INBRIGHT Development GmbH, copyright: Frederik Keller-Berndorff*

Strategic location in Cologne
The property is located at St. Leonardus Strasse 1 within the “Industriepark Koeln-Nord“, a well-established industrial and commercial hub with a mix of logistics, production, and service operators. It benefits from proximity to the Niehler Hafen, Cologne’s northern inland port, providing direct access to cargo handling and river transport facilities. Road connections are strong, with the nearby A1 motorway linking the site to Cologne and the wider Rhine-Ruhr region, and the Bundesstraße B9, a major federal road offering convenient local and regional connectivity. Public transport links are also readily available, with Straßenbahn line 12 and bus line 147 within a 600-metre walk, providing easy access to Cologne city centre and surrounding districts. The surrounding area is anchored by logistics and industrial operators, including the nearby Ford manufacturing plant, directly north of the site.

Long-term new lease to KVB Köln leads to full occupancy
The largest of the four warehouses, comprising 5,724 sq m, as well as an adjoining 318 sq m office, have been long-term leased under a green lease to Kölner Verkehrs-Betriebe AG (KVB), Cologne’s public transport operator, with the lease secured and finalized in parallel with the acquisition. KVB uses the space for the storage of spare parts for its tram fleet. The remaining warehouses are occupied by a diversified mix of logistics and service tenants.

Planned ESG-upgrades
Patron Capital and INBRIGHT plan to carry out refurbishment and ESG-related measures to enhance the overall quality and sustainability of the asset. The planned upgrades include the renewal of the heating system, conversion of all lighting to LED, and the installation of a photovoltaic (PV) system. In addition, the building is targeting BREEAM certification, demonstrating compliance with recognized environmental standards.

Joint venture strategy and portfolio
The JV has actively expanded in Germany over recent years, acquiring and repositioning assets in Cologne-Marsdorf, Mainz, Hamburg, Norderstedt, Hanover and Berlin-Ludwigsfelde. Further investments are planned, with the JV targeting logistics, last mile and light industrial properties with refurbishment and value-add potential. The total JV portfolio now spans nine assets across key metropolitan areas in Germany and Portugal.

Christoph Ignaczak, Senior Partner and Investment Director at Patron Capital, said: “Cologne-Niehl exemplifies the type of location central to our JV strategy: a well‑connected last mile logistics and industrial hub within Germany’s Rhine‑Ruhr region, with strong transport infrastructure and long‑term occupier demand. This acquisition aligns with our commitment to strategic logistics and light industrial markets. Through targeted refurbishment and sustainability‑led enhancements we see clear potential to deliver modern, flexible industrial space that will create long‑term value for both occupiers and investors.”

Frederik Keller-Berndorff, Head of Transaction at INBRIGHT, added: “The long-term lease to the Kölner Verkehrs-Betriebe AG simultaneous to the acquisition is a major highlight of this transaction, demonstrating the asset’s appeal in today’s market. Alongside the existing diversified tenant mix, this allows us to ensure a balanced and resilient income profile from day one. We will also deliver targeted ESG-led upgrades, enhancing operational efficiency and creating a flexible, futureproofed facility that meets the evolving requirements of occupiers.”

The acquisition and subsequent lease to KVB Köln was brokered by Angermann NRW GmbH, with legal counsel provided by GSK Stockmann and tax advice by Noerr. KVL was responsible for technical due diligence. Environmental due diligence was conducted by Landplus.

About Patron Capital
Patron represents approximately €5.2 billion of capital raised across several funds and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses. Since it was established in 1999, Patron has undertaken more than 200 transactions across 1117 investments and programs involving over 9 million square metres in 17 countries, with many of these investments realised.

Investors represent a variety of sovereign wealth funds, prominent universities, major institutions, private foundations, and high net worth individuals located throughout North America, Europe, Asia and the Middle East. The main investment adviser to the Funds is Patron Capital Advisers LLP, which is based in London, and Patron has other offices across Europe including Barcelona and Luxembourg; the group is comprised of 66 people, including a 42-person investment team.
Further information about Patron Capital is available at www.patroncapital.com

About INBRIGHT
INBRIGHT develops light industrial and logistics properties in economically strong locations with excellent transport connections. Since its founding in 2020, the company has initiated projects with a total investment volume of over €550 million and approximately 300,000 square meters of rental space in Germany. With the establishment of INBRIGHT Portugal, the company has recently expanded into the Portuguese market. Today, INBRIGHT employs 25 team members, all dedicated to implementing sustainable and innovative real estate solutions. www.inbright.de

INBRIGHT Development GmbH
Erasmusstr. 14
10553 Berlin
+49 (0) 30 4036862-0
info@inbright.de

Press Contact INBRIGHT
Yvonne Hoberg
GLOWING MIND | Communications & Transformation
M +49 151 54 750 169
yvonne.hoberg@glowing-mind.com

Our Contribution to the sustainable Development Goals of the United Nations

The 17 Sustainable Development Goals (SDGs) were adopted in 2015 by the member states of the United Nations.
They set a road map for the sustainable social, economic and environmental transformation of our world by 2030.

The SDGs also offer us as a company a framework for contributing to a positive future for the world. Our ESG strategy is our contribution to tackling the greatest worldwide challenges, especially to achieving the following SDGs:

We respect diversity, a fair pay and participation structure and the indivdual promotion of out team members, thus contributing to equality of opportunity.

Economic success and a profitable investment strategy are for us the foundation for securing attractive jobs in the long term and contributing to healthy economic growth.

We promote a low-emission infrastructure by locating our properties close to existing residential areas, offering our tenants access to public transport. We modernise and reposition old industrial and commercial properties to make their use lower in emissions, cleaner and more flexible, thus making a noticeable contribution to sustainable industry.

When building and repairing our properties, we are careful to use innovative and engery-efficient systems so as to aviod unnecessary environmental pressures on the surrounding area. Wherever compatible with legislation and the comfort demands of our users, we reduce technical equipment to a minimum to promote the longevity of our properties.

We align both our company and our property projects to ESG criteria. This includes planning our properties in a way that is sparing of resources and ensures them a long useful life with maximum flexibility. We also maintain open interactions in the spirit of partnership with all those involved – from planners and building firms through to the eventual user.

Reducing emissions, especially CO2 emissions, has a high priority for us within our ESG strategy. We as a company aim to reduce and compensate for our CO2 footprint to make the most effective contribution we can to protecting the climate.

How we derived Our ESG strategy

In an initial workshop, we first developed core values for our company. The development of an ESG strategy for INBRIGHT is based on this: main topics were determined and validated based on a fixed evaluation scheme in a two-day workshop. On the one hand, the topics result from the requirements of national and international industry standards and frameworks, such as DGNB, LEED and GRESB, and, on the other hand, from general sustainability standards, such as the Global Reporting Initiative (GRI), the Sustainability Accounting Standards Board (SASB) and the Sustainable Development Goals. The list of topics was ultimately supplemented by specific industry requirements from the Light Industrial area. The collection of topics was classified based on a fixed evaluation scheme in a materiality assessment using a two-dimensional matrix with the dimensions “Relevance to business” and “Effects on the government and society”. The topics with the highest values in both dimensions, and hence being above the materiality threshold, form the basis of our ESG strategy or our sustainability programme. The materiality assessment is revalidated annually with the participation of internal and external stakeholders and the assessment of the topics is adjusted accordingly.

Our Contribution to the sustainable Development Goals of the United Nations

We respect diversity, a fair pay and participation structure and the indivdual promotion of out team members, thus contributing to equality of opportunity.

Economic success and a profitable investment strategy are for us the foundation for securing attractive jobs in the long term and contributing to healthy economic growth.