KCRE performed extensive research and financial modelling to evaluate this investment. Subsequently, we managed the Due Diligence process and submitted a binding bid in a competitive auction, which resulted in a successful deal.
KCRE acquired the asset in October 2014 and closed its disposal just 7 months later, in May 2015, for an approximate amount of €22.2m. During the holding period, KCRE stabilized the lease situation and secured 10-year financing. We continued to lead an active property and asset management until exiting this investment.