BlueRock Group divests Cologne office property

Zurich-based real estate investment and asset manager BlueRock Group has sold an office property in Cologne from the BlueRock Fund PCC to an international industrial firm for a price in the mid-double-digit millions of euros. 

BlueRock Group

This sale reflects the company's strategic portfolio adjustments in response to the continuing difficulties in the office sector.
The property, constructed in 2000 on a plot of approximately 7,000 m2 and significantly renovated in 2012, offers a total lettable area of around 8,100 m2. This sale represents the successful conclusion of a planned property cycle. Heussen Rechtsanwaltsgesellschaft provided legal counsel to the seller in this transaction.
Ronny Pifko, CEO of the BlueRock Group, said: "For some time now, we have been analysing the structural changes in the market environment, particularly in the office segment, very closely and selectively adjusting our allocation. We see growing potential in the residential sector, particularly in Berlin. The transaction in Cologne illustrates how we are managing existing investments in line with long-term plans and making targeted reallocations to further develop our portfolio in a forward-looking manner. Nevertheless, we will continue to selectively review office investments. If the price and story are right, there are good entry opportunities for our investors." 
BlueRock Group specializes in creating and executing active investment strategies for family offices and institutional investors. The company has completed transactions totalling € 1.7 bn to date.
Operating across Europe, BlueRock Group concentrates on office properties in Germany and the residential market in Berlin. Its active portfolio includes over 55 high-quality properties in prime locations within major and secondary cities, spanning Core+, Value-Add, and Opportunistic risk categories. Currently, the company manages approximately €650 mln in assets.