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Sign in Sign up for a FREE subscriptionKanAm Grund Group launches €500m property development fund
The KanAm Grund Group has held a first close for its new fund, KanAm Grund German Development Fund. The fund is seeking to raise €500 million ($567 million) in total equity. The preexisting investors base comes from mainly family office.
The fund is KanAm Grund Group’s first to invest in property development with a focus on Germany. The first property development involves micro apartments in the metropolitan area of Stuttgart. The new fund will also aim to invest together with established project developers with the focus on residential space, student halls of residence, boarding houses and offices.
KanAm Grund Real Estate Asset Management GmbH & Co. KG will serve as an investment adviser. The fund is managed by Warburg Invest Luxembourg as AIF manager.
The first project involves 121 micro apartments in Esslingen. The ensemble of buildings, including listed properties and new builds, includes around 13,123 square feet of gross floor area and is estimat
