KanAm Grund Group: development activities advance – another large-scale letting for the KanAm Grund German Development Fonds

• Second large-scale letting for the KanAm Grund German Development Fonds within a few months
• MASEVEN Management GmbH signs rental contract for 13,500 square meters project in Frankfurt am Main’s Gutleutstrasse for “Serviced Apartment Hotel MASEVEN”

KanAm Grund Group's development activities continue to make progress with the leasing of the project in Gutleutstrasse in Frankfurt am Main to MASEVEN Management GmbH. This is the second large-scale letting within a few months, following the successful letting of the entire Levelingstrasse project in Munich to Orbis Apartments GmbH at the end of last year. There are currently four project developments and mezzanine investments in the KanAm Grund German Development Fonds, with a total volume of more than half a billion euro. 

Construction has already begun on the Levelingstrasse and Gutleutstrasse projects, which all involve serviced apartments. In the case of Orbis Apartments GmbH these are (as reported in November 2021) the “Nena Apartments” in Munich’s Berg am Laim district. The total rental area of the project amounts to almost 5,000 square meters. MASEVEN Management GmbH plans to operate “MASEVEN Frankfurt city Gutleutviertel” – with an aggregate rental space of 13,500 square meters – in the Gutleutviertel district of Frankfurt am Main. 

Successful joint venture with pantera AG    
The two projects are part of a joint venture between KanAm Grund German Development Fonds and pantera AG. The project development fund is providing equity and mezzanine capital for the acquisition. pantera AG is responsible for the conceptual design and is providing technical support on the projects as well as dealing with building regulations.     
An additional two development activities are currently also part of the KanAm Grund German Development Fonds: serviced apartments in Rostock’s “An der Kesselschmiede street” and a residential complex in Esslingen.     

About “MASEVEN”
The München Messe Dornach and München Messe Trudering buildings have been operated under the MASEVEN brand since 2020. Completion of the new 252 units of “MASEVEN Frankfurt City Gutleutviertel” in Frankfurt’s Gutleutstrasse is scheduled for the second half of 2024. MASEVEN stands for sustainable and digital serviced apartments and combines in a unique way the comfort of an apartment with exceptional service offerings of a hotel. The lobby is the central hub and meeting point for guests and surprises with an open fitness area, pink laundromat, bar & restaurant, 24/7 supermarket, co-working and a small cinema.

Further development possibilities being investigated    
In addition to the management and further development of existing projects, KanAm Grund Group is always investigating potential new developments. In addition to hotels und serviced apartments, our focus is on logistics and light industrial, office, residential, and retail segments in the German top 7 cities and economically strong metropolitan regions as well as in all other European countries. Central, easily accessible locations with planning permission either already in place or obtainable at short notice are of particular interest. Furthermore refurbishment and repositioning approaches are continuously examined.