Leading Cities Invest, a KanAm Grund Group fund, has entered the Polish market by acquiring the Renaissance office building in central Warsaw from a fund managed by GLL Real Estate Partners. The parties agreed not to disclose the purchase price.
The building, which was originally built in 1902 as a residential building, has been completely transformed to a Class A office building with a BREEAM “Very Good” certificate. The main tenant is the global media company Viacom Media Networks.
Leading Cities Invest, the first new generation open-ended real estate fund, has been generating continuous returns of more than three percent per year for its investors for more than 5 years. This target performance is also targeted for the year 2019.
With 22 properties in its portfolio, Leading Cities Invest already invested in 16 locations in Germany, Belgium, France, Great Britain, Switzerland and Poland. The real estate portfolio is 100% leased.
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