KanAm's Leading Cities Invest (LCI) fund has purchased the Kugelhaus retail asset in Dresden.
Financial details were not disclosed.
Located at Wiener Platz opposite the train station, the asset, built in 2005, was recently refurbished. Anchor tenant Decathlon has just signed a 10-year lease renewal, while other occupiers includes the themed Rollercoaster Restaurant, and German butcher Radeberger Fleisch- und Wurstwaren Korch.
The deal brings the LCI portfolio to 13 assets in six cities across three countries. They include retail, food and beverage, hotels, medical services, offices and leisure-focused assets.
According to KanAm, the fund concluded 2017 with a return of 3.3%.
BNP Paribas acted as broker on the deal.
