KanAm Grund Group has purchased the Lambda property for its open-ended real estate investment fund LEADING CITIES INVEST. Located near the German city of Chemnitz, the Core Plus property classified as Light Industrial further diversifies the portfolio of the retail fund. The parties agreed not to disclose the price of the transaction.
As an addition to the LEADING CITIES INVEST office property portfolio at European locations, six logistics properties have been acquired in Germany since 2018. Following the acquisition, the investment fund's logistics portfolio now consists of seven properties spread across central and northern Germany, representing around 5% of the fund's assets. The long-term tenant of the property is Diamant Fahrradwerke GmbH. Today, the company belongs to the American bicycle and cycling product manufacturer Trek Bicycle Corporation. Catella represented the vendor, while CBRE advised the buyer.
With investment exceeding €10bn last year, logistics properties were the second most important commercial real estate class in Germany, after office space. Market reports indicate that industrial and logistics properties accounted for more than 16% of the transaction volume in the commercial real estate investment market in 2021, the best result to date.
