LEADING CITIES INVEST has sold the Kastenbauerstraße 2-6 property in the east of Munich. The mixed-use property in Munich-Zamdorf is located on a plot of 18,805m² near the exhibition centre and was only included in the fund 1 ½ years ago. The portfolio of LEADING CITIES INVEST, which is still in the growth phase, is regularly checked for its optimal orientation. The parties agreed not to disclose the price. After the sale in Munich, the real estate portfolio of LEADING CITIES INVEST features 34 properties at 25 locations in 10 countries in Europe and the USA.
As part of the ongoing asset management, the Munich property in Kastenbauerstraße was converted to green electricity and green heat in 2020, following the fund strategy. These measures significantly improved the CO2 emissions in the building. Nevertheless, further maintenance measures would have to be implemented in the building within the next few years to meet the sustainability requirements of the LEADING CITIES INVEST.
