The KanAm grundinvest Fonds has sold one of four properties in its existing portfolio in Luxembourg, the Atrium Business Park. With a rental area of almost 54,000m² and about 2,000 parking spaces, it was completed between 2005 and 2011 and is located in the submarket of Bertrange close to the Belgian border.
The disposal of the four properties in Luxembourg means that the sales quota of KanAm grun-dinvest Fonds is approaching the 90 percent mark of real estate assets, with the number of fund properties still to be liquidat-ed dropping to 8. Sales negotiations are already at a very advanced stage in the case of a further four properties. The purchasers of the Luxembourg portfolio is Deka Immobilien. No information has been released on the sell-ing price.
More than 90 percent of real estate assets should be liquidated and €4.4bn paid back by the time the discretionary mandate of KanAm grundinvest Fonds is transfered to the M.M.Warburg & CO custodian bank at the end of the year.
To date, a total sales volume exceeding €5bn has been achieved in the context of Agenda 2016 for liquidation of the KanAm grundinvest Fonds, with considerably more than €1bn of this being realized this year. This is the highest sales volume of all open-end real estate funds currently in liquidation.
