24.06.2021
KanAm Grund Group invests in the center of Paris
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Haussmann style building is being repositioned as an office building
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Aiming for BREEAM certification
Haussmann style building is being repositioned as an office building
Aiming for BREEAM certification
In the centre of Paris, not far from the Champs-Élysées on Rue Marbeuf, KanAm Grund Group has acquired a building constructed in 1880 in the Haussmann style, which KanAm Grund Group will reposition for an investor. The property 35 Marbeuf is located in the heart of the Golden Triangle in downtown Paris and was acquired for the special real estate fund of a north German pension fund. The property will be completely renovated and then repositioned as an office property with retail space. The aim is to achieve environmental certification in accordance with BREEAM. The KanAm Grund Group has had a permanent branch in Paris near the property 35 Marbeuf since 2005. The Paris team is supported in this project by the KanAm Grund Group's development department, which is also experienced in European markets. The team in Paris has also very successfully implemented six major renovation and repositioning projects in the past few years and was responsible for more than 1.9 billion euros in project volume.
The KanAm Grund Group team in Paris, reinforced by the Development Management Europe department, will monitor the repositioning phase, which is scheduled for almost two years, as has already been successfully implemented in several similar projects in Paris. In Paris, the Quai d'Orsay property in the Central Business District (CBD) deserves special mention. Here an existing property was completely renovated and optimized after the long-term tenant moved out. The successful development is evidenced by a long-term follow-up letting, which was concluded six months before the end of the construction work for a prime rent.
The 35 Marbeuf building is located in the 8th arrondissement of Paris, which, with 3 million square meters of office space, is the capital's most important business district. The most prestigious luxury and fashion brands, major financial institutions and important French and international law firms are located in this area. The parties have agreed not to disclose the purchase price.
The KanAm Grund Group is continuously expanding its portfolios for institutional investors. This deal is part of a growing family of special real estate funds from the KanAm Grund Group for institutional investors. This includes the Fokus Süddeutschland Fonds as well as other KanAm Grund Group funds that invest in Europe beyond Germany. Properties from these funds are located in France, Great Britain, Belgium, the Netherlands, Luxembourg, Switzerland and Germany, among others. Depending on the investor strategy, the KanAm Grund Group offers investments in office, hotel, retail and logistics sectors in the core, core plus, value add and development risk classes in the markets 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.