KanAm Grund Group has bought the mixed-use Europahaus property in Germany for institutional investors.

KanAm said it acquired the asset in Wiesbaden from Danish private investor for an undisclosed sum.

The entire office space of the three-part property is let to the German state of Hesse under a long-term lease until 2032.

The tenancy agreements for the five retail premises and a restaurant on the ground floor of the property at the corner of Walter-Hallstein- and Schiersteinenstrasse/Konrad-Adenauer-Ring are for shorter terms, KanAm said.