For an institutional real estate fund - KanAm Grund Group acquires office portfolio in Barcelona

  • Seven centrally located buildings - tenant: Generalitat de Catalunya
  • 37 real estate deals with a transaction volume of over 1.6 billion euros this year alone

Frankfurt, 10th October, 2019 – Frankfurt-based KanAm Grund Group purchased a 21,000 square meter real estate portfolio in the Spanish business metropolis Barcelona, comprising a total of 7 office buildings for an institutional investor. All the buildings are very centrally located in the inner city and are let to the Generalitat de Catalunya, the institution under which the autonomous community of Catalonia is politically organized. A further object was bought for the LEADING CITIES INVEST, an open-end real estate fund for private investors (as previously reported). Barcelona is the capital of Catalonia, economically the strongest Spanish region. Within the first 9 months of this year, Frankfurt based KanAm Grund Group already realized 37 real estate deals with a transaction volume of over 1.6 billion euros. Three quarters of these transactions formed part of the institutional investment business, the remaining quarter being in private investment.

With around 1.62 million inhabitants, Barcelona is the second most densely populated metropolis in Europe after Paris and no longer merely a tourist magnet, a port and trading city and an industrial location. A high degree of investment in recent years means that the service sector now dominates Barcelona’s economy, and the metropolis is fast developing into a high-tech location.

The properties of the portfolio bought by the AXA insurance group for the KanAm Grund Group real estate special fund include Carrera 12-22, Paral.lel 71-73, Roger de Flor 62-68, Portal de Santa Madrona 6-8, Pl. Pere Coromines 1, Puig i Xoriguer 11-13, Doctor Joaquin Pou 8. Sole tenant of all seven properties is the Generalitat. It has been agreed to keep the sales price confidential.

Most acquisitions by KanAm Grund Group this year took place in the institutional sector and were made for banks, retirement and pension funds and family offices from both Germany and other countries. KanAm Grund Group made investments for institutional special funds in Barcelona, Paris, London, Edinburgh, Dublin, Marseille, Nice, Munich, Frankfurt, Hamburg and Wiesbaden. The KanAm Grund Group is currently serving institutional investors with a growing family of special funds (with one more about to be launched), both in line with German and Luxembourg laws as well as separate account mandates. The KanAm Grund Group thus covers a huge breadth of risk classes with funds following strategies from Core, Core Plus and Value Added to Opportunistic. More special AIFs are scheduled to be added to the offering.



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