Munich: AEW buys Accor headquarters from KanAm
AEW has acquired the Accor headquarters in Munich, as TD learned from market insiders. The seller is KanAm’s open-ended private fund Leading Cities Invest, which had held the property in its portfolio since the fall of 2016. The total investment volume is said to be about €30mn. The ensemble on Hanns-Schwindt-Straße 2-4 was built in 2001 and has 7,600 sqm lettable space. AEW was advised by law firm Hogan Lovells, the seller was supported by GSK Stockmann and CBRE. KanAm had bought the Accor headquarters from Hannover Leasing in the fall of 2016 for €20mn. AEW will be adding the property to the Spezialfonds “Europe Value Investor II” launched in April by the German capital management company. The fund has a value-add strategy, and the target equity volume is around €500mn.
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