LEADING CITIES INVEST acquires property in the Munich East

  • The year 2019 was very successful for the real estate fund

  • Volume increased to around 600 million euros - performance gone up to 3.4 percent p.a.

At the end of 2019, the LEADING CITIES INVEST bought another property in the Munich East. The multi-tenant property is located at Kastenbauerstrasse near the publishing house of German newspaper Süddeutsche Zeitung in the Bogenhausen-Zamdorf district and extends over 22,400 square meters. The building has a flat roof, some of which offers a green roof design. It was updated in 2017 and has undergone further refurbishment work over the last two years. The tenants include Instrument Systems, a subsidiary of Konica Minolta, and Verizon Germany. The office complex, which was originally built in 1993, is laid out in a main wing with side wings radiating from it and spreads out over two to five levels above ground. The seller is a European family office that has been exclusively represented by Stargime Germany since 2010. The sale was brokered by Jones Lang LaSalle. It has been agreed to keep the sales price confidential.

2019 proved to a be a very successful year for the LEADING CITIES INVEST. The KanAm Grund Group’s open-ended real estate fund was able to increase significantly in volume and improve its solid performance again to 3.4 % p.a. as of 31 December 2019. Property assets last year increased by nearly 114 % to almost EUR 600 million. Even though cash inflow was highly regulated by the CashCall/CashSTOP principle, the fund was opened up to around EUR 250 million worth of new moneys from investors. The 14 transactions completed in 2019 included the acquisition of 12 objects and the sale of a further two properties.

The real estate portfolio of the LEADING CITIES INVEST is notable for its extremely broad diversification, ranging from offices, industry/logistics and retail/gastronomy to the hotel trade and leisure facilities. With an occupancy rate of 97.8 % the portfolio can be considered fully let. Together with the striking level of dynamism associated with transactions, a high occupancy rate is a clear indication of the profitability of the fund. Since transforming its energy supply to ensure sustainability in 2019, the LEADING CITIES INVEST has already been able to reduce CO2 emissions by 1,821 tons. In the current real estate fund rating of the Scope rating agency, the excellent quality of LEADING CITIES INVEST was distinguished with the third consecutive awarding of an a+AIF rating, and the asset management rating of the KanAm Grund Group was raised to AA-AMR.

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