Montano Real Estate GmbH
Montano Real Estate acquires first property for recently launched ‘Montano Public Sector Fonds I’ in an off-market transaction
Issuer: Montano Real Estate GmbH
/ Key word(s): Real Estate
Montano Real Estate acquires first property for recently launched “Montano Public Sector Fonds I” in an off-market transaction
Built in 2002, the modern 5-storey office building has a lettable area of more than 8,000 sqm and 40 parking spaces and is currently fully let to a total of eight tenants. More than 80 percent of the rental income are generated by public sector tenants and government-related companies. The main tenant is the City of Frankfurt. The property is located at Salvador-Allende-Strasse 11 in the Frankfurt-Bockenheim district and is characterised by its proximity to Frankfurt city center and easy access by public and private transport. “We are very pleased to announce this attractive transaction so soon after the launch of our Public Sector Fund. The target group of government-related tenants offers a high degree of security, because especially in turbulent times like these, a strong credit rating is an even greater asset,” says Ramin Rabeian, co-founder and Managing Partner of Montano Real Estate. “For many years, we have had good experience with properties leased to government-related users and expect to announce more promising transactions for our fund soon.” The economic launch of the “Montano Public Sector Fund I” took place in April 2022 and significant equity commitments were already raised at the start. The fund currently has a total investment volume in the three-digit million euro range and is expected to invest a total of 500 million euros. The “Montano Public Sector Fund I” focuses on core properties in the office and special real estate sector with government or government-related users. One of the reasons why this asset class is so attractive is that government-related tenants have very good credit ratings and are interested in long-term leases due to high relocation hurdles. According to studies[1], the rental market with public sector tenants has turned out to be very robust even during the Corona crisis. The “Montano Public Sector Fund I” qualifies under Art. 8 of the Disclosure Ordinance, thus taking into account the increasing relevance of the sustainability issue for the public sector. The buyer was advised in the off-market transaction by Black Olive, legal advisors were McDermott Will & Emery, technical advice was provided by ChandlerKBS. The seller was advised by HFK Rechtsanwälte PartGmbB.
About Montano Real Estate Contact Legal notice The fund is an open-ended special AIF with fixed investment restrictions pursuant to section 284 KAGB and may not be distributed to private investors within the scope of section 1 (19) no. 31 KAGB. A summary of the investor rights is available in German in electronic form at https://www.intreal.com/wp-content/uploads/2021/07/Zusammenfassung-der-Anleger-rechte.pdf. On request, we will send you a paper copy free of charge. You can request it from Montano Real Estate GmbH, Lenbachplatz 5, 80333 München or from IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH (“INTREAL”), Ferdinandstrasse 61, 20095 Hamburg. Insofar as information is provided on individual financial instruments or issuers, this is not intended as a recommendation of specific financial instruments. The future performance of the fund also depends on the investor’s personal situation with regard to taxation and may change in the future. Please note that this document does not constitute or replace legal or tax advice. This document and the assumptions contained herein have been prepared with care and in reliance on the accuracy of data provided to us by third parties, however, we cannot guarantee the accuracy, completeness or timeliness of this information. In addition, the parameters underlying this document are subject to change and it is possible that these assumptions may not be maintained at a later date.
Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Montano Real Estate GmbH |
Lenbachplatz 5 | |
80333 München | |
Germany | |
Internet: | https://www.montano.eu/ |
EQS News ID: | 1364597 |
End of News | DGAP News Service |