A specialist investment fund of the newly established LaSalle Investment Management Kapitalanlagegesellschaft (LaSalle KAG) has acquired a commercial property in Garmisch-Partenkirchen, Germany for an undisclosed sum.

The building, which was built in 2010, comprises approximately 5,800 m2 and is located in the center of the city of Garmisch. The property has been let on a long-term basis to occupants including H&M and C&A. The seller is Hummel&Dachs Entwicklungsgesellschaft. The buyer was advised by the broker Lührmann.

The newly-established specialist investment fund aims to achieve a total investment volume of EUR 200 mln to be invested in office and retail properties in prime locations with long-term leases. Its geographic focus is on Germany, France and the UK.