Greystar Real Estate Partners has acquired the Kanso development, a 303-unit mid-rise residential project in Frankfurt.
This is the second acquisition for its Germany and Austria €1 billion develop-to-core venture with a global institutional investor following the announcement that Greystar has purchased 234 units in Hamburg earlier this year.
The building will operate under Greystar’s expanding pan-European student and young professional brand Canvas Living, which is already operating in other European metropolises and university cities such as London, Coventry, Glasgow and Utrecht. Canvas Frankfurt will be the first building in Germany for the new multi-asset strategy, which enables Greystar’s partners to tap into a wider footprint and the financial efficiencies of scale via a license model.
“We are making good progress with our strategy to build a diversified portfolio in Germany and Austria from the ground up focusing on residential assets of scale,
