AEW buys grade-A office building in Cologne

AEW has purchased a grade-A landmark office building in central Cologne, Germany from  Development Partner (Gateway Real Estate) and Patron Capital on behalf of a French institutional investor.

The asset, known as ONE COLOGNE, is located at Venloer Straße 151-153 in Cologne, Germany’s fourth most-populated city with a population of more than 1 million.

Following a full refurbishment this year, the property comprises 15,600 square meters (167,917 square feet) of high-quality office space space, spanning 13 floors. The property also features two roof terraces and a 253-car basement parking lot.

ONE COLOGNE is fully-let to four tenants including German airline Deutsche Lufthansa and Stadt Köln, agencies run by the city of Cologne.

Located at the intersection of two major arterial routes in Cologne’s CBD, the property is close to rail and road transport links.

“ONE COLOGNE is a prime acquisition that is well located in a dynamic market with a