The KanAm Grund Group has launched a new real estate fund for institutional investors, and within less than two months has already invested in a real estate portfolio worth over €130m. The KanAm Grund European Cities fund, which was set up especially for a northern German pension fund, has by now acquired office buildings in the City of London and the French city of Lyon as well as a hotel in Antwerp, Belgium.
In the UK, the fund has acquired an office scheme in the City of London. Located at 30 Moorgate, between Moorgate and Bank underground station, the property is expected to be completed in 2019. The building has been completely refurbished this year and is under long-term lease to Regus.
The fund's second purchase, Le Quadrille is located in the 8th Arrondissement of Lyon, France. Built in 2009, the asset comprises two self-contained six-storey buildings, which are located on a prime corner plot at the Avenue Jean Mermoz. The complex is fully let to 14 different parties and used as offices and surgeries. Le Quadrille is approximately 10 minutes from the TGV station La Part-Dieu.
In Antwerp, the fund purchased a hotel development located at Pelikaanstraat 80-90. The hotel with 186 rooms, which is due to be completed next year, is located in a highly visible location opposite the southern exit of the Antwerp main station. The property is expected to operate under NH Collection banner.
