Barings acquires mixed-use asset in Cologne, Germany

Barings has acquired MP6, a mixed-use asset in Cologne, Germany, on behalf of a core investment strategy. The seller of the 19,000-square-meter (204,514 square feet) 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-story asset is located in the MediaPark district of Cologne, just north-west of the historic city center. It offers around 15,500 square meters (166,840 square feet) of office, 500 square meters (5,382 square feet) of retail and 1,300 square meters (13,993 square feet) 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.