KanAm Grund’s Leading Cities Invest fund has acquired a 31,700sqm portfolio of five office buildings in Spain from AXA IM Alts.
The Leading Cities Invest fund has invested an undisclosed amount to buy office buildings in Barcelona let on a long-term basis to Generalitat de Cataluña, the regional government of Catalonia.
The acquired assets include Gran Via 612-614, Aragó 330-332, Aragó 244-248, Via Laietana 60 and the Via Laietana 58 building.
AXA IM Alts, on behalf of clients, acquired the buildings in 2013 as part of a portfolio of 13 buildings.
AXA IM Alts said, following the sale, the Generalitat de Cataluña remains one of AXA IM Alts’ most important occupiers in Spain and occupies the Fira Building, a 58,600sqm office building in Barcelona owned by AXA IM Alts still owns.
IPE Reals Assets understands that KanAm is in talks to acquire another asset from AXA IM Alts, a deal expected to complete next month.
The latest portfolio acquisition lifts Leading Cities Invest fund’s assets to more than 39 properties at 25 locations in 10 countries across Europe and the US.
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