KanAm Grund Group successfully launches fund for property development

KanAm Grund German Development Fund focusing on Germany - First Equity Closing concluded and first project signed - Investment volume of more than 500 million euros pursued

Frankfurt (13 December, 2018) – The KanAm Grund Group has concluded the first Equity Closing for the new fund type. With the KanAm Grund German Development Fund, KanAm Grund Group expands its product range with a new type of fund, which is their first to invest in property development with a focus on Germany. The first property development involves micro apartments in the metropolitan area of Stuttgart. Further types of use, the new German Development Fund of KanAm Grund aims to invest in together with established project developers, will be residential space, student halls of residence, boarding houses and offices. In this, KanAm Grund Real Estate Asset Management GmbH & Co. KG functions as an investment advisor. The fund is managed by Warburg Invest Luxembourg as AIF manager. The target investment volume pursued is over 500 million euros. The investment horizon is around three years. The preexisting investors base comes from the Family Offices area.

The first project involves 121 micro apartments in Esslingen. The ensemble of buildings, including listed properties and new builds, includes around 4,000 square meters of gross floor area and is estimated to be finished in 2020. The project volume amounts to around 30 million euros. Joint Venture Partner for this property development is pantera AG. This family business from Cologne, Germany, is currently one of the most active and leading property developers in the field of serviced apartments and student halls of residence. The company is currently working on projects involving more than 1.300 micro apartments in nine locations, which have already been purchased.

KanAm Grund Group and pantera AG are currently checking whether the cooperation will be extended to further property projects.

About the KanAm Grund Group
The KanAm Grund Group has handled a transaction volume of over USD 32 billion 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.
In order to set it up strategically to face the challenges of the future, the company was reorganized 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 the new KanAm Grund REAM (international investment & asset management advisory). The aim of this strategic repositioning is the continuous development of the KanAm Grund Group into an international real estate enterprise which provides real estate investment and asset management services to German private investors, institutional investors and international investors alike, irrespective of the investment vehicles involved.