Leading Cities Invest acquires Greenside

Published: 30 July 2018

The German real estate fund has bought Edinburgh’s Greenside office building as its first investment in Scotland. We spoke to Dr. Michael Birnbaum, press officer for Frankfurt-based KanAm Grund Group.

Your business in brief?

The KanAm Grund Group is a specialist investor in commercial real estate funds. We’ve handled 250 real estate transactions worth more than $31 billion since we were established in October 2000 and have around $9 billion assets under management.

Edinburgh is one of the most attractive investment locations in Europe: a city with a future, with a wide range of university education, an excellent climate for startups and companies that develop and market tomorrow's technologies.

Dr. Michael Birnbaum, press officer, KanAm Grund Group

 

The company is owner-managed. Our two managing partners, Hans-Joachim Kleinert and Olivier Catusse, focus on the individual needs of German and international investors, with the geographical emphasis being in Europe and the United States.

We are headquartered in Frankfurt, Germany, with branch offices in Paris, London and Atlanta and more than 60 employees across the group.

KanAm Grund Group has handled 250 real estate transactions worth $31bn since being established in 2000.

What makes Edinburgh an attractive market for you?

Edinburgh is one of the most attractive investment locations in Europe: a city with a future, with a wide range of university education, an excellent climate for startups and companies that develop and market tomorrow's technologies. It also has strong employment numbers as a centre for government and administrative institutions.

Leading Cities Invest (LCI) is the fund that invested in Edinburgh. This is our private investors’ fund, which looks to capitalise on the potential of leading cities.

We research potential investment opportunities using our own portfolio modelling tools, which we call C-SCORE. This helps us select appropriate investment locations – like Edinburgh - and determine the best real estate investments. This allows LCI to offer the best possible potential returns, backed by property selection based on facts and data.

What attracted you to Greenside and who is based there?

LCI has invested in Edinburgh’s Greenside building following other acquisitions this year in Brussels, Dresden and London. The location of Greenside at 12 Blenheim Place is in Edinburgh city centre and is only a short walk from the Edinburgh Waverley station.

It benefits from an historic aspect on to Calton Hill and is close to the 1.7m square feet the Edinburgh St James development, which is one of the biggest regeneration projects currently underway in the UK.

The refurbished Greenside office building is the first Scottish investment for Leading Cities Invest real estate fund.

Greenside’s tenants are a software development company working for financial consultants, the management unit of one of the UK’s largest onshore wind park portfolios and a technology company specialising in the development of autonomous driving software.

What's the vision for your business in Edinburgh / Scotland?

We want to keep an eye on further opportunities to invest in this city with a future, maybe with a different investment vehicle or fund for institutional investors.

 

If you would like to find out more about how we can help you and your business establish, relocate or expand within the city region, or would simply like more information about what Edinburgh has to offer, get in touch today.

E: invest@edinburgh.gov.uk

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E: invest@edinburgh.gov.uk

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