09.10.2019

KanAm Grund German Development Fund and pantera AG: Next project development of serviced apartments in Rostock

New development with 162 serviced apartments for business guests and tourists - Fourth project cooperation between both these partners - Fund aims to achieve an investment volume of over 700 million euros

Munich/Cologne/Rostock, 9.10.2019 – The KanAm German Development Fund and pantera have joined forces for the fourth time in this serviced apartments project development. 162 accommodation units for business guests and tourists will be created in Rostock by mid-2021 directly on the banks of the Warnow. The units are generally around 20 m² in size and located in five detached buildings, each with five or six floors. Some apartments on the upper floor of buildings in this ensemble directly on the waterfront even have up to 46 m².

Rostock has also seen an increase in guests opting for accommodation in serviced apartments instead of classic hotels, particularly where longer stays are involved. These include business travelers in, for example, Rostock’s extensive high-tech sector and companies involved in energy plant engineering and aerospace technology. The fact that the city is also a strong third-level education and research location also feeds the demand. Tourists are also attracted by the historic city and nearby coastal region. Stays are frequently connected to tourism in the booming Baltic cruise industry. All of these guest groups wish to enjoy more homely comforts than are available in normal hotel rooms. In addition, the fully furnished serviced apartments are a considerably cheaper alternative.

Previous project developments realized together by the KanAm German Development Fund and pantera have involved more than 200 serviced apartments on Gutleutstrasse in the center of Frankfurt am Main, 80 serviced apartments in the Munich district of Berg am Laim and a building in Esslingen near Stuttgart with 121 micro-apartments.

This cooperation has seen the German Development Fund providing the required equity and mezzanine capital to finance the property purchase. The conceptual design and management of the technical and planning aspects of the project will be in the hands of pantera AG. KanAm Grund Real Estate Asset Management GmbH & Co. KG acts as investment advisor. The aim is to sell the properties to institutional investors once the conceptual design is completed.

The target investment volume for the KanAm Grund German Development Fund which was launched in 2018 exceeds 700 million euros in the next three years or so. This fund invests in living, student accommodation, serviced apartments and office properties in cooperation with established project developers. LRI Group has taken on the fund administration as alternative investment fund manager (AIFM). The existing investors’ base comes from the family offices sector.

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. 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 significant growth of the KanAm Grund Group, as 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.


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