06.12.2021
KanAm Grund Group buys in Bordeaux
- Office part of the "IN NOVA" building ensemble fully rented to public tenants
The KanAm Grund Group has bought the office parts of an ensemble of buildings in Bordeaux for an institutional real estate special fund. The 55 meters high “IN NOVA” houses 6,442 square meters of office space from the ground floor to the 9th floor. These are 94 percent leased long-term to two public tenants. Above the office section is a seven-story structure with 29 luxury condominiums with balconies and roof terraces in a very high quality finish, which were not part of the acquisition and are completely independent of the office accommodation. Bordeaux is a popular university city and the political, economic and scientific center of the French southwest. The seller is Keys REIM. The parties have agreed not to disclose the purchase price.
The IN NOVA building is located in the Quartier de l’Ars in the south of Bordeaux. The entire district will be upgraded through the planned urban redevelopment with modern and livable architecture. The new Jardin de l’Ars, a park of around eight hectares, which will also be the city’s new gateway to the south, will begin at the foot of the IN NOVA building and run to the banks of the Garonne. Around the Jardin de l’Ars there are kindergartens, primary and secondary schools, cultural institutions and museums, a swimming pool on the banks of the Garonne, as well as retail, catering and office spaces. The urban development project aims to create a green, mixed-use district that will offer a higher quality of life.
The two public office tenants in IN NOVA are the French State, which provides space there to the Department's Employment, Labor and Solidarity Directorate (DDETS), and Solendi Expansion, an important player in the field of social and intermediary housing construction in France who has been campaigning for easier access to living space for over 65 years. The remaining space is rented to the software game developer and publisher PLAYWING, which was founded in England. There are 150 parking spaces available for office tenants in an adjacent multi-story car park.
The fund belongs to the family of currently eight real estate special funds of the KanAm Grund Group for institutional investors. The Frankfurt-based KanAm Grund Group is continuously expanding these portfolios for institutional investors with different regional focuses in Europe and Germany. Depending on the investor needs, the KanAm Grund Group offers investments in the types of use office, hotel, retail and logistics in the core, core plus, value add and development risk classes: in Germany, Europe and North America. The customers of this KanAm Grund Group fund family include banks with their Depot A investments, companies and church assets, pension and pension funds as well as high net worth family assets.