German group KanAm Grund is preparing the launch of a new European office fund, targeting a volume of €500 mln.
The vehicle, KanAm Grund Public Institutions Europe, is expected to kick off at the turn of the year, and will follow a core risk-return investment strategy ‘in response to the demand for security by retirement and pension funds as well as insurance companies’. It will target assets which are let to public institutions or tenants with a public-service remit.
‘The global Covid pandemic has had a massive impact on the economic activity in all sectors during 2020. However, office real estate with select quality tenants in prime locations has proven to be particularly resistant to the economic downturn,’ the group said, commenting on the fund plans.
KanAm has completed transactions worth €850 mln so far this year, distributed across 24 office properties in Germany and Europe.
