KGAL announced that it will offer a new product for properties that it describes as "local champions". The "KGAL Selected Commercial Property Fund" is to reach an investment volume of €500-700mn and will concentrate on locally dominant retail centers. KGAL Head of Real Estate André Zücker envisions a tenant mix providing basics like grocery stores, restaurants, health care, and public services in practically any location with more than 200,000 residents – not only places like Munich and Hamburg, but also, e.g., Dortmund. "The decisive factor is the micro-area," he said. Up to 40 or 50 tenants per property, from completely different sectors in various cities – is that a problem? Not according to Zücker, who said at Expo Real that it was an advantage "because only a broad-based asset manager like us can do it." And the mix also promises security – including against e-commerce. Ticket sizes can range from €20mn to even more than 100mn. The Luxembourg-based fund is to return 5.5% to its investors.