Issuer: Montano Real Estate GmbH / Key word(s): Acquisition
Montano Real Estate acquires further property for "Montano Public Sector Fund I" in Stuttgart
Munich, 30 August 2022 - Montano Real Estate GmbH ("Montano", www.montano.eu), one of the leading independent investment managers in the German commercial real estate market, can acquire another promising property for the multi-investor special fund "Montano Public Sector Fund I", which was launched in spring, with the purchase of the two connected office buildings "Chess House" in Stuttgart's Feuerbach district. The seller is SH.I.R. Real Estate Germany. The parties have agreed not to disclose the purchase price.
The property is located at Heilbronner Straße 314 in Stuttgart's high-demand Feuerbach submarket. The two parts of the building together have 9,000 sqm of rental space, extends over six or seven floors and also have a three-storey underground car park with almost 100 parking spaces. The state of Baden-Württemberg has been the tenant of the two buildings since April 2021. They are located north of Stuttgart's city centre and are easily accessible by public and private transport. As an integral part of the investment criteria, a concrete plan was already drafted during the due diligence process to sustainably transform the property through various measures.
"The Chess House is another very interesting property in an attractive location and has a long-term tenant with a strong credit rating in the state of Baden-Württemberg - this is precisely what we are targeting with our Public Sector Fund: commercially used administrative buildings in the best locations in the most important metropolises and economic centres. The strategy of acquiring flexible building structures in good locations with rent default-proof tenants and enforceable indexed leases makes our fund so interesting for investors, especially in times of crisis," says Ramin Rabeian, co-founder and Managing Partner of Montano Real Estate.
The economic launch of the "Montano Public Sector Fund I" only took place in April 2022 and significant equity commitments were already raised at the start. This means that the fund currently has a total investment volume in the three-digit million euro range. The fund is expected to invest a total of 500 million euros. The "Montano Public Sector Fund I" focuses on core properties with government or government-related users. The attractiveness of this asset class is due, among other things, to the fact that government-related users are always tenants with very good credit ratings who are interested in long-term leases due to the high barriers to relocation. Indexed leases also offer protection against the current high inflation. The "Montano Public Sector Fund I" qualifies according to Art. 8 of the Disclosure Regulation and thus takes into account the increasing relevance of the sustainability issue for the public sector.
Legal advisors were McDermott Will & Emery Rechtsanwälte Steuerberater LLP. Technical advice was provided by Drees & Sommer. The seller, SH.I.R. Real Estate Germany, was legally advised by Andersen GmbH Rechtsberatung Steuerberatung. Colliers Stuttgart and E&G Real Estate acted as brokers in the transaction.
About Montano Real Estate
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. Source: [Montano Real Estate GmbH] (as of 18.05.2022), unless other sources are stated.
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