German fund manager KanAm Grund Group has entered the Swiss market by buying banana giant Chiquita's European headquarters on the shores of Lake Geneva.
The newbuild office development in Etoy, between Lausanne and Geneva, was completed in 2018 and extends to 3,500 m2 over four storeys. Chiquita Brands International occupies the building on a 10-year lease.
The vendor was French asset management firm Aerium Group. The parties agreed not to disclose the purchase price.
The asset was acquired for Leading Cities Invest, an open-ended real estate fund for private investors, which now holds properties in 15 locations across five countries and has appreciated in value by 16.8% since it was issued five years ago. The current cash stop is due to be lifted by the end of March to open the fund for new investments.