LEADING CITIES INVEST puchases the Prado office building in Marseille
- Next CashCall since the end of May / More than 19 percent in value since it was launched
- Target yield of 3% p.a. remains in place for 2019
Frankfurt (06 June, 2019) – KanAm Grund Group's LEADING CITIES INVEST public fund expands the France portfolio with a purchase in Marseille, following the Nice acquisition last month. The property is the 300 Prado office building in Marseille. The property's main tenant is the French utility company EDF, with global audit and advisory services firm MAZARS and APRIA, parent company to various insurers, as further tenants. With these three tenants, the property is fully let. It has been agreed to keep the sales price confidential.
Having acquired an office and retail building at the Avenue Notre Dame in Nice only a few weeks ago and finalized its first investment in Poland with the Renaissance Building in Warsaw this June, LEADING CITIES INVEST, the first new generation open-end real estate fund for private investors, now holds investments in 17 locations across five countries and has appreciated by more than 19 percent in value since it was launched over 5 years ago. The fund management will continue to follow the guiding principles of this sustainable return of at least 3 percent per year with maximum possible security in 2019. As negotiations for further suitable properties are already approaching their final stages, the next CashCall is on since the end of May and the fund re-open for new moneys.
France's second city, Marseille, is the capital of the Provence-Alpes-Cote d´Azur region and home to numerous authorities, associations and corporations. Alongside the important seaport Marseille Europort, the economy is marked by the manufacturing and service sectors. 300 Prado is located in the historic business district, the 8th Arrondissement of Marseille. Home to predominantly traditional firms, such as lawyers, auditors, doctors and other professionals, the district is also the city's most expensive and most popular living quarter. The property is located at the Rond Point du Prado, the center of this famous boulevard. It has 9 stories with the top two levels including a large roof-terrace with views of the Mediterranean metropolis.
The LEADING CITIES INVEST takes advantage of the growth potential of future-oriented cities with a high potential for further development and harnesses it for private investors. The investment spectrum includes a range of different types of commercial properties, from select office buildings, retail outlets and renowned High Street properties to hotels. With the City-score and the Property Selection Model (PSM), KanAm Grund applies two research and portfolio models that were developed in-house, in order to identify promising real estate markets and properties for LEADING CITIES INVEST. The two models work hand in hand and, in all recent transactions, offered important data on quality and expected performance. The newly developed G-Score Model is a further optimization of this approach specifically for Germany.
About the KanAm Grund Group
The KanAm Grund Group has handled a transaction volume of over 32 billion US dollars since it was established in October 2000. The owner-managed company focuses on the individual needs of German and international investors, with the geographical emphasis being in Europe and the United States.
In order to set it up strategically to face the challenges of the future, the company was reorganized into three business divisions under the umbrella of the KanAm Grund Group: KanAm Grund Kapitalverwaltungsgesellschaft (an open-end real estate fund), KanAm Grund Institutional Kapitalverwaltungsgesellschaft (a special real estate fund) and the new KanAm Grund REAM (international investment & asset management advisory). The aim of this strategic repositioning is the continuous development of the KanAm Grund Group from a German real estate fund issuing company into an international real estate enterprise which provides real estate investment and asset management services to German private investors, institutional investors and international investors alike, irrespective of the investment vehicles involved.