KGAL has acquired the Sachsenring-Ensemble in Cologne, Germany. The property located in the south of Cologne’s city centre was acquired for a real estate special AIF. The Sachsenring-Ensemble office complex is well served by public transport. The Ensemble, consisting of three free-standing buildings, was constructed in 1996, and was awarded the Cologne Architecture Prize in 2000. It is currently 98 percent let and comprises 14,284 sqm of rental space and 167 car parking spaces. The property was purchased from MEAG, asset manager for insurers Munich Re and ERGO. MEAG was advised by BNP Paribas during the sale process.
Picture credit ©MEAG
