Commerz Real Sells Property in Canada

→ Transaction timed to coincide with market cycle peaks
→ Sales proceeds approximate 63 million Euros
→ Asset had been acquired for hausInvest fund in 2009

Commerz Real just sold “Stampede Station,” a Canadian

Commerz Real just sold the “Stampede Station” office scheme in Calgary, Canada, from the portfolio of its hausInvest open-ended real estate fund.

The sales proceeds from the Grade A property equal to approximately 90 million Canadian Dollars (approx. 63.4 million Euros). The property was

acquired by Artis REIT, a Real Estate Investment Trust based in Canada. The real estate portfolio of Artis includes around 150 office, retail, and logistics properties located throughout Canada and the United States. 

“Our timing to sell the ‘Stampede Station’ property was perfect for exploiting the market cycle,” 

said Hans-Joachim Kühl, Member of the Board ofCommerz Real AG and in charge of real estate transactions.

 “The acquisition of the property two years ago marked our successful entry into the Canadian office real estate market. The positive performance of Calgary’s office market and the high quality of the fully occupied property translated into a steady gain in yields for this asset. Given the keen interest on behalf of the buyer’s market, everything fell into place, making it the perfect time to sell.”

The total investment volume for the nine-storey office scheme had added up to approximately 74 million Canadian Dollars. This means that the sales proceeds exceed the original purchase price by 16 million Canadian Dollars or 22 percent after just 24 months.

“Stampede Station” is situated in the prime office location of the Beltline submarket on the south end of downtown Calgary. The property has a lettable area of around 15,100 sqm, most of which is used by IHS Energy, an energy service provider.

We will gladly send you a high-resolution image for printing.

Short Profile of Commerz Real AG
Commerz Real is a fully-owned subsidiary of Commerz Bank AG with more than 40 years of market experience and approximately 40 billion Euros in assets under management. The company combines comprehensive knowhow in asset management and a broad-based structuring expertise to deliver its signature range of services: Fund products focused on tangibles ensure a stable long-term asset accumulation, while tailored financing concepts create new investment margins. The company’s investment products include openended real estate funds, specialised real estate funds, and closed-end funds for real estate, aviation, renewable energy, and ships. Among its spectrum of financing products are planning, construction and financing services in the context of commercial real estate and investment solutions for a wide variety of asset classes. Moreover, Commerz Real offers tailored equipment leasing concepts in its role as leasing company of Commerzbank Group.