KGAL is investing in a Hamburg office asset β a six-storey asset in Winterhude β for a German alternative investment fund.
AndrΓ© ZΓΌcker, managing director of real estate at , said the assetβs location held βgreat promise for the futureβ, citing modern architecture in an βattractive environment for an ideal work/life balanceβ.
The 25,790sqm office was built in 2006 and is fully let to publishing house Jahreszeitenverlag.
KGAL said it was planning further investments for the AIF in both the office and retail sectors.
The companyβs chief executive, Gert Waltenbauer, recently said that, despite KGALβs international focus, the UKβs referendum decision to leave the European Union would have no effect on the future development of the asset manager, as KGAL had maintained business relations with non-EU countries for years.
βEven after Brexit, the UK will remain a financially strong and reliable partner for KGAL,β Waltenbauer said.
