KanAm's LCI acquires medical centre in Frankfurt

German asset manager KanAm has bought a medical centre in Frankfurt for its Leading Cities Invest (LCI) fund.

German asset manager KanAm has bought a medical centre in Frankfurt for its Leading Cities Invest (LCI) fund.

The 2,800 m2 facility is located in the Nordend district of Germany’s financial capital and is 94% occupied. The six-storey building houses specialist services including orthopaedics, radiology and physiotherapy, as well as a restaurant on the ground floor.

Financial details were not disclosed.

LCI’s total portfolio was valued at €61 mln at end-2015, an increase of 3.3% on the previous year. The fund is made up of office, retail, hotel and healthcare assets located in four major European cities.

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