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Barings, one of the world’s largest diversified real estate investment managers, has acquired MP6, a mixed-use asset in Cologne, Germany, on behalf of a core investment strategy. The seller of the 19,000 sq m property is MEAG, investment manager of Munich Re and ERGO. The parties have agreed not to disclose the purchase price.
Built in 1999, the nine-storey asset is located in the MediaPark district of Cologne, just north-west of the historic city center. It offers around 15,500 sq m of office, 500 sq m of retail and 1,300 sq m of residential space. The green inner courtyard, which opens up into an adjoining park, provides an attractive atmosphere as well ample natural light. The asset has a WALT of around three years, with 25 occupiers across the IT, media, service and medical sectors. The property includes high quality amenities with several conference rooms, a fitness studio, a bistro and retail space on the ground floor.
The central and established location benefits from excellent public transport links with tram and S-Bahn train stations nearby, as well as the Cologne West train station, which is only a few minutes’ walk away.
Source : Barings Real Estate