KanAm grundinvest Fonds has sold L'Alma office complex in the Parisian suburb of Gennevilliers to French asset manager Perial.

KanAm grundinvest Fonds has sold L'Alma office complex in the Parisian suburb of Gennevilliers to French asset manager Perial.

Financial details were not disclosed, however KanAm said the sale was in line with the asset's current market value which stood at €61 mln at end-June 2015.

Bought by KanAm's grundinvest spezial fonds in 2008, the property provides around 14,000 m2 of space and is entirely let to consulting firm Alma Consulting.

The German asset manager has reduced the fund's portfolio from €6.4 bn in December 2011 to around €2 bn at present.