11 August 2017
Reporter: Theo Andrew

KanAm targets Germany's economic triangle with €500 million real estate fund

The KanAm Grund Group has launched a new fund, Fokus Süddeutschland, and made its first acquisition as it looks to raise €500 million.

The fund will seek to acquire office, retail, hotel and residential properties in Germany’s economic triangle of Munich, Stuttgart and Frankfurt.

According to KanAm, Fokus Süddeutschland will raise its funds in two years and will target an annual performance of 4 to 5 percent.

The fund has already acquired a shopping centre in Frankfurt, a 9,000-square metre asset in the main shopping district and is in talks to secure its next property in Stuttgart.

The Frankfurt-based retail asset is 99 percent let to seven companies.

The group hopes to benefit from Southern Germany’s strong economic indicators, with the economic triangle accounting for 44 percent of the office space and 61 percent of the investment volume into Germany’s biggest seven cities.

Last year, KanAm restructured itself into three divisions, an open-ended real estate fund, a specialist real estate fund and an international investment and asset management advisory.

KanAm hopes the move will make it more attractive to international investors.

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