The KanAm Grund Group has acquired an 8-floor London office building for a new institutional investment fund.

The Frankfurt-based property investor said it bought the Princes Court building adjacent to the Bank of England for an undisclosed sum. Vendor details were also undisclosed.

The tenants of Princes Court include seven different international companies.

KanAm said this acquisition is second London asset for the institutional investment fund. The fund recently also made an acquisition in Marseilles.