KGALInvestment Management GmbH & Co. KG (KGAL) has acquired the first development project for its new fund, KGAL Wohnen Core 3. This maiden investment is the Wohnen am Candidplatz neighborhood development in Munich-Untergiesing, which has a total of approximately 24,000 square meters (258,334 square feet) of rental space, including 355 residential units. The new building is expected to be completed by the end of 2023.
"Candidplatz, with its attractive links to the heart of Munich, is an ideal foundation investment for the portfolio of our new residential fund KGAL Wohnen Core 3. Thanks to the sustainable combination of refurbishment of existing buildings and energy-efficient new construction, as well as the modern mobility concept, the project fits perfectly with the ambitious ESG profile of our investors," said André Zücker, managing director of KGAL Investment Management GmbH & Co. KG, with responsibility for the real estate asset class.
The development pro
