AXA Investment Managers Deutschland GmbH has sold an office property from a special real estate fund. 'VD-Office' is part of the Rheinauhafen urban regeneration project of the Rhineland city of Cologne and has a total usable area of approx. 7,800 sq m for office and restaurant use.

Two private investors have bought the property at 'Im Zollhafen 2-4'. The exclusive six-storey property was constructed in 2008 in a waterfront location close to the city centre between the marina and the Olympic Museum. Large glass facades and coloured fairfaced concrete elements set the tone of the building. The modern and transparent architecture is continued in the interior of the building with a special creation by the star designer, Philippe Starck.

The new owners will let the property primarily to affiliated companies. They are in ongoing
discussions with various operators from the restaurant/bar trade with regard to the restaurant section. In legal and fiscal questions, the buyers were advised by the law practice of Hogan Lovells, Frankfurt/Düsseldorf and the sellers by CMS Hasche Sigle of Cologne. DERECO Real Estate from Cologne was responsible for initiating the transaction and consulting and will continue to act in an advisory capacity to support the buyers in letting the property.