KanAm Grund Group’s new real estate fund has acquired its third asset in Germany.

Fokus Süddeutschland, which was launched in August last year to invest in southern Germany, has acquired the TechPark Oberhaching in the southeast of the Bavarian metropolis, a Munich suburb.

The property is being sold by a company of the representative and managing director of Octogon Capital, who is also implementing a refurbishment of the building.

No financial details were disclosed.

The multi-story building at Raiffeisenallee, which is mainly used as office and manufacturing space, comprises around 12,500sqm of space.

Fokus Süddeutschland has previously bought a high street shopping location in the pedestrian precinct of Frankfurt-Hoechst, and has bought part of the Stuttgart Cloud No 7 building as its second property. 

Fokus Süddeutschland hopes to raise €500m from institutional investors.

The KanAm Grund Group was reorganised in 2016 in a bid to broaden its appeal to clients outside Germany and those requiring a wider range of investment vehicles.

The company restructured itself into three divisions: KanAm Grund Kapitalverwaltungsgesellschaft (an open-end real estate fund), KanAm Grund Institutional Kapitalverwaltungsgesellschaft (a special real estate fund) and the new KanAm Grund REAM (international investment & asset management advisory).