KanAm Grund Group purchases the Heimatministerium building in Nuremberg

• Bavarian Ministry of Finance and Regional Identity as tenant
• Real estate special fund for banks invested in 7 properties across 6 locations
• Ensuring business operations in the current Corona crisis

The KanAm Grund Group purchased the Nuremberg Heimatministerium building for the Fokus Süddeutschland Fonds. The building of the former Bavarian state bank is considered one of the early architectural masterpieces of Post-War Modernism in Nuremberg. Located in the heart of the St Lorenz old town, it is in direct proximity to one of Nuremberg’s landmarks, St Lorenz Church. The former bank building, which has been home to the office of the Bavarian State Ministry of Finance and Regional Identity since 2014, is situated on the northern edge of “Lorenzer Platz”. With investments in Munich, Stuttgart and Frankfurt, the Fokus Süddeutschland Fonds does not only hold investments in the top 3 real estate locations of Southern Germany but also in all three capitals of the Southern German states. The special real estate fund, whose investors are mainly banks and savings and loans institutions from the region, concentrates on Germany’s strongest economic regions in the South. Including the property in Nuremberg, it has now acquired a total of 7 properties across 6 locations. The broad range of occupancy types, ranging from office, hotel and retail to industrial sites, provides the portfolio with additional diversification. The KanAm Grund Group has ensured business operations during the current Corona crisis.

The property between Bankgasse and Findelgasse was fully refurbished in 2014. It offers a gross floor area of 6,506 m², including 5,440 m² of lettable space. The sole tenant of the property is the Free State of Bavaria, which uses the building as office for the Bavarian State Ministry of Finance and Regional Identity. Cushman & Wakefield was acting as consultant for the transaction. It has been agreed to keep the sales price confidential.

With around 520,000 inhabitants, Nuremberg is Bavaria’s second largest city after Munich. Together with the contiguous city of Fürth, it is home to about 660,000 people and joint center to the region of Middle Franconia. Nuremberg as business location is seen as an important hub for the high-tech industry. People in Nuremberg generate mean incomes above the nationwide average. This is in part thanks to the companies located in the direct surroundings and the Central Franconian region in general. Industry giants such as Adidas, Puma and the Schäffler Gruppe in Herzogenaurach, and also Siemens, Bosch and MAN generate high employment figures locally.

The Fokus Süddeutschland Fonds forms part of a growing family of KanAm Grund Group real estate special funds. With the Fokus Norddeutschland Fonds and the KanAm Grund European Cities KI, 2019 and early 2020 saw the launch of two new special real estate funds, with the acquisitions of the first properties already completed.