Asset and investment management firm KGAL has further expanded its real estate portfolio with the acquisition of the Sachsenring-Ensemble in Cologne. The property in the south of Cologne’s city centre was acquired for a real estate special AIF. With this purchase, the KGAL Group marks another investment in a top location following acquisitions in Hamburg, Berlin, Düsseldorf and Munich in recent months.
Located approx. 2.5 km south of the main train station in Cologne’s desirable “Neustadt-Süd” district, 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 14,284m² 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.
Cologne, Germany’s fourth-largest city, is growing dynamically and, as the home to numerous universities, research institutes, television broadcasters and publishing houses along with European trade shows, it offers excellent business prospects. Close links between the local business, academic, media and culture communities make Cologne an ideal base for both international enterprises and small and medium enterprises, as well as research institutes with their highly qualified staffs.