Sonar Real Estate divests Cologne office asset

Sonar Real Estate has completed the sale of an office building in Cologne-Deutz to Ashtrom Properties Germany. 

Siegburger Strasse 229c

The transaction was executed as part of a broader asset management agreement on behalf of a pan-European property investment manager. 
While the purchase price remains confidential, the property, located at Siegburger Strasse 229c, comprises approximately 8,500 m2 of rental space, with 88% dedicated to office use and 12% to warehouse space. 
Key tenants include Omya, Grobecker engineering firm, and Vössing Ingenieure. 
Legal counsel for the seller was provided by Clifford Chance and PwC, while K+L Gates advised Ashtrom Properties Germany, with technical advice provided by ImoExperts Dr Kühne & Böker GbR. Colliers served as the advising broker. 
Hamburg-based Sonar Real Estate currently manages a portfolio of approximately €3.0 bn in assets.