KanAm Grund Group has launched a German real estate development fund and is building 121 micro-apartments in Stuttgart.
The German fund manager is seeking to raise more than €500m for the fund, having reached a first close with family-office investors.
The KanAm Grund German Development Fund will team up with developers to fund projects in the residential, student housing and office sectors.
For its first investment it has partnered with developer Pantera to build 4,000sqm of micro-apartments in the Esslingen area of Stuttgart. The fund is expected to provide €30m of funding.
KanAm said it is exploring with Pantera the possibilty of extending the cooperation to additional projects.