12.09.2019

KanAm Grund German Development Fund - The next attractive development project at Augsburg Central Station

Plans for an office and hotel building including retail and gastronomy outlets - Target investment volume of the fund over 700 million euros

Frankfurt, 12 September, 2019 – The KanAm Grund German Development Fund wants to build a hotel and office building, including serviced apartments, retail and gastronomy outlets on the site of the former loading yard at Augsburg Central Station. In a joint venture with CV Projektentwicklung, the fund has purchased a property at Ladehofstrasse, consisting of two building plots spanning nearly 4000 square meters. The property is located in the area of the former inner loading yard of Augsburg Central Station. The loading yards are one of the last important areas for development in the inner city of Augsburg. A new neighborhood is being developed on the former railroad property, serving as living, business and hotel space. The property was sold by Aurelis. It has been agreed to keep the sales price confidential. A preliminary building application has been submitted. Building work is planned to start in the summer of 2020.

Under the framework of the cooperation, the German Development Fund will finance the property purchase and provide the required equity and mezzanine capital. The financing, project development and management of the technical and planning aspects of the project will be in the hands of CV Real Estate AG. KanAm Grund Real Estate Asset Management GmbH & Co. KG will act as investment advisor. The aim is to sell the property to institutional investors once the conceptual design is completed.

KanAm Grund Group's German Development Fund, which was only launched last year, in 2018, invests in joint ventures with well-established project developers for living space, student halls of residence, serviced apartments and offices. LRI Group has taken on the fund administration as alternative investment fund manager (AIFM). The target investment volume is set to be over 700 million euros, with an investment horizon of around three years. The existing investors' base comes from the Family Offices area.

About the KanAm Grund Group
The KanAm Grund Group has handled a transaction volume of over 33 billion US dollars since it was established in October 2000. The owner-managed company focuses on the individual needs of German and international investors, with the geographical emphasis being in Europe and the United States. The company is strategically split into three business divisions under the umbrella of the KanAm Grund Group: KanAm Grund Kapitalverwaltungsgesellschaft (an open-end real estate fund), KanAm Grund Institutional Kapitalverwaltungsgesellschaft (a special real estate fund) and KanAm Grund REAM (international investment & asset management advisory). Since its strategic repositioning, KanAm Grund Group, as an international real estate enterprise, has provided real estate investment and asset management services to German private investors, institutional investors and international investors alike, irrespective of the investment vehicles involved.


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