AEW announces the first acquisition for the recently launched AEW “Europe Value Investor II Fund” an office building in Munich-Riem acquired from KanAm Grund.
The Accor Building at Hanns-Schwindtstrasse 2-4 comprises 7,629 sqm of office space and has been fully let since completion in 2001 to AccorInvest Germany GmbH. The property also offers a total of 115 parking spaces.
EVI II focuses primarily on identifying office properties with upside potential in established and developing locations in Europe’s most liquid markets. The Fund has raised €210mn in equity commitments at first close and is targeting total equity of approximately €500mn which will provide a total investment capacity of circa €1bn.
AEW was advised by Hogan Lovells and GSK Stockmann and CBRE advised the seller.
Source : Company