The sale price is in the mid-double-digit million-euro range. Amid ongoing challenges in the office sector, the transaction exemplifies the strategic refocusing of the portfolio.

"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," explains Ronny Pifko, CEO of the BlueRock Group.

The property being sold was built in 2000 on a plot of around 7,000 sq m and extensively renovated in 2012. It has a total rental area of around 8,100 sq m. The sale marks the successful completion of a planned property cycle. Heussen Rechtsanwaltsgesellschaft mbH provided legal advice to the seller.

"This sale is the result of a stringent property strategy. At the same time, it symbolises our fundamental approach of regularly evaluating every investment and reacting flexibly to changing conditions – without losing sight of our overarching goals," Ronny Pifko emphasises.