04.02.2020

Fokus Norddeutschland Fonds purchases property in Hanover

  • Multi-tenant property “EAP3” in Hanover, the capital of Lower Saxony
  • Fund portfolio aiming at institutional investors from the banking sector
  • The seller is a real estate fund from Credit Suisse Asset

The KanAm Grund Group’s Fokus Norddeutschland Fonds has purchased the “EAP3” at Ernst-August-Platz in Hanover. The fully let property opposite Hanover’s central station was built as Hôtel de Russie in 1880. In 2003/2004, it was fully refurbished and turned into today’s multi-tenant property, offering 11,000 m² of space spread out over five levels above ground. The tenants include a Saturn electronics retail outlet and the Lower Saxony division of AOK health insurance. The Fokus Norddeutschland Fonds was set up as recently as last summer and has already bought a property in Hamburg, namely a center providing local shops and amenities, called "Unser Viertel", loosely translated as "Our neighborhood", in the Volksdorf district. This multi-tenant property includes a supermarket, retail outlets, offices, doctors' surgeries and a municipal library, and stretches over an area of more than 5,000 m². This special fund by KanAm Grund Institutional Kapitalverwaltungsgesellschaft mbH, just like its Fokus Süddeutschland Fonds, is aimed at institutional investors from the banking sector.

The lettable space of “EAP3” includes retail and office space, doctors’ surgeries and storage space. Another tenant of the building is the Balzac Coffee Company with one of their 49 premium coffee bars. The building fronts onto Kurt-Schumacher-Strasse, Ernst-August-Platz and Rosenstrasse, and can be accessed from three sides. The seller is a real estate fund from Credit Suisse Asset. BNP brokered the deal in late 2019. It has been agreed to keep the sales price confidential.

Hanover, home to around 540,000 inhabitants, is the third largest city in Northern Germany. It is the capital of the German state of Lower Saxony and center of the Hanover Region which includes around 1.8 million people. Hanover is an innovative center to the manufacturing and service industries and logistics hub.

The investment strategy for the Fokus Norddeutschland Fonds is to build an attractive real estate portfolio in Northern Germany, including office buildings, hotels, retail and residential properties, and aims for a balanced real estate mix consisting of prime quality and sustainable Core and Core+ properties which promise long-term stable yields and appreciation in value.

KanAm Grund Group is continuously adding to their portfolios for institutional investors. The Fokus Norddeutschland Fonds joins a growing family of specialized institutional funds by the KanAm Grund Group, including the Fokus Süddeutschland Fonds, and other KanAm Grund Group funds with investments not only in Germany but throughout Europe. The real estate of these funds is located in France, the United Kingdom, Belgium, the Netherlands, Luxembourg, Switzerland and Germany. Clients investing in this KanAm Grund Group family of funds include banks with their depot A investments, enterprises and church assets, pension funds and high-net worth family assets.

 

 


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