KGAL is investing in a Hamburg office asset 鈥� a six-storey asset in Winterhude 鈥� for a German alternative investment fund.
Andr茅 Z眉cker, managing director of real estate at , said the asset鈥檚 location held 鈥済reat promise for the future鈥�, citing modern architecture in an 鈥渁ttractive environment for an ideal work/life balance鈥�.
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 company鈥檚 chief executive, Gert Waltenbauer, recently said that, despite KGAL鈥檚 international focus, the UK鈥檚 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.
鈥淓ven after Brexit, the UK will remain a financially strong and reliable partner for KGAL,鈥� Waltenbauer said.
