KanAm International, the Munich based fund manager, introduced KanAm/WestWind USA Office II, its second US close-ended real estate fund. Investment is in a 55 story building in Miami, Florida.
The complex has been rented out for 94%. Major tenants include renowned lawyer firms, PricewaterhouseCoopers, Ernst & Young and Deloitte & Touche. Total investment is around USD 77 mln. Annual yield is expected to start at 7.5%, which gradually will increase to 11%. Partner in the investment is Land Lease.