Germany’s KanAm Grund Group has managed to reach €1 bn of assets for its open-ended Leading Cities Invest retail real estate fund since launching in July 2013, it has trumpeted.
The portfolio has gravitated towards office and logistics property across Europe and the US.
Olivier Catusse, managing partner, said: 'The positive fund volume development confirms our investment policy and the trust our investors place in our strategy.’
The group announced its most recent addition in August when it revealed the acquisition of a last-mile logistics property in Enns, Austria.
Hans-Joachim Kleinert, founding partner of KanAm Grund Group, took the opportunity to say: ‘Since our establishment 22 years ago we have played a pioneering role in many aspects. We were, for instance, the first private – and thus independent – real estate asset management company in Germany. And we have developed the cash call strategy in order to manage capital inflows to a large extent in such a way that funds are available when there is a property to be acquired.’
‘Leading Cities Invest the first open-ended retail real estate fund to be launched under the regulatory provisions of the German Investment Code.'
The fund has 41 properties in 27 locations and 11 countries. The focus is on office (76%). Other usage types have been added as diversifiers. For example, it has gone for 8% in logistics, and 6% in retail and catering buildings.