German fund manager KanAm said it is on track to meet its target to liquidate its EUR 6.3 bn grundinvest fund by end-2016 after selling EUR 1.9 bn of assets in 2012.
German fund manager KanAm said it is on track to meet its target to liquidate its EUR 6.3 bn grundinvest fund by end-2016 after selling EUR 1.9 bn of assets in 2012.
The company paid off around EUR 800 mln of its debt and distributed around EUR 1 mln to investors in the first year of the fund's liquidation.
In November, KanAm Grund announced the sale of Winchester House, Deutsche Bank's headquarters building in London, to rumoured buyer China Investment Corporation. Financial details were not disclosed, however, UK press reports put the deal price at £250 mln (EUR 312 mln).
Earlier this year, the Frankfurt-based fund manager divested One Exchange Square and 90 High Holborn in London to the Malaysian investment fund Permodalan Nasional Berhad (PNB) for a value of around EUR 570 mln.
