The KanAm Grund Group has acquired an 8,900sqm office building in France for institutional investors.

The asset manager bought the fully-let M-Square building in Marseille for an undisclosed sum.

M-Square comprises ground floor and six upper levels in the eastern part of the property and eight upper levels in the western part. It also offers two underground levels, providing the 101 parking spaces.

The property is suitable for complete leasing of all usable space to a single tenant or multi-tenant leasing on different floors.

KanAm said the latest acquisition is the tenth property of a special alternative investment fund for institutional investors, which now holds investments in ten locations across seven European countries.