The KanAm Grund Group has acquired an office property with around 18,547 square meters of rental space in Via Augusta, one of the main streets of Barcelona, for the special real estate fund KanAm Grund European Cities. The sole tenant is the Generalitat de Catalunya, which includes all of Catalonia’s political institutions. The property benefits from very good visibility and excellent connections by public and private transport. The property is located in the inner-city district of Sarrià-Sant Gervasi, one of the most prestigious districts in Barcelona. The property was acquired from AXA IM Alts, acting on behalf of clients. The parties agreed not to disclose the price.
The building, which also includes 282 car parking spaces, is situated in the vibrant inner-city L’Eixample district. This excellent location, also popular for high quality residential, hotel and high street retail uses, offers numerous opportunities to repurpose elements of the asset in the future.
The KanAm Grund European Cities belongs to the family of currently eight specialized real estate funds of the KanAm Grund Group for institutional investors. The Frankfurt-based KanAm Grund Group is continuously expanding these portfolios for institutional investors. In addition to Spain, KanAm Grund European Cities has invested in Germany, Ireland, Great Britain, France and Belgium, and 75 percent of this is in office real estate. Depending on the investor’s strategy, the KanAm Grund Group offers investments in office, hotel, retail and logistics in the core, core plus, value add and development risk classes: in 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.
As part of the purchasing process in Barcelona, five other properties, which are also part of a portfolio, were marketed. These properties were acquired by KanAm Grund Kapitalverwaltungsgesellschaft on behalf of the LEADING CITIES INVEST public fund.
Source : Company