Sonar Real Estate sells Cologne office building to Ashtrom Properties Germany

Sonar Real Estate has completed the sale of an office building in Cologne-Deutz to Ashtrom Properties Germany. The transaction was carried out on behalf of a pan-European property investment manager under an asset management mandate. The purchase price has not been disclosed.

The property, located at Siegburger Strasse 229c, was built in 2008 on a site of around 6,300 square metres. It offers approximately 8,500 square metres of rental space, of which 88 percent is offices and 12 percent warehouse space. The building is fully let to tenants including Omya GmbH, Grobecker engineering, and Vössing Ingenieure.

Advisors on the transaction included Clifford Chance and PwC for the seller, with K+L Gates acting for the buyer. Technical advice for Ashtrom Properties Germany was provided by ImoExperts Dr Kühne & Böker GbR, while Colliers served as the broker.