Germany's open-ended KanAm US-grundinvest Fonds posted a total return of 6.3% in the 2007/2008 fiscal period, its fifth anniversary year, the company said on Tuesday. After an extended period of limited activity, the north American property market again offered a string of opportunities, as reflected in the seven acquisitions the fund made during the period.
Germany's open-ended KanAm US-grundinvest Fonds posted a total return of 6.3% in the 2007/2008 fiscal period, its fifth anniversary year, the company said on Tuesday. After an extended period of limited activity, the north American property market again offered a string of opportunities, as reflected in the seven acquisitions the fund made during the period.
Property revenues increased to $1.1bn from $888.6mln, while fund equity expanded 22.4% to $713mln from $582.5mln. Net capital inflows amounted to $114.5mln.
KanAm US-grundinvest Fonds further diversified its US strategy in 2007/2008, expanding into new cities like Las Vegas, Orlando and the upcoming office markets of the Dallas/Fort Worth metropolitan area. The biggest leasing deal involved a five-storey, 13,500 m2 building at 50 South Sixth Street in Minneapolis which was let to accountancy firm Deloitte & Touche.
