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KanAm Grund buys Brussels building for banking fund

KanAm Grund Group has acquired the South Crystal office building in Brussels. The 7,300 sq m, nine-storey building was bought from insurer Ehtias on behalf of the KanAm Grund European Cities KI – Fund which is aimed at institutional investors from the banking sector.

The acquisition price has been withheld.

South Crystal is located in the South District of Brussels, at the corner of Avenue Fonsny and Rue de Russie. The building’s main tenant is Infrabel, a largely state-owned company, which builds, operates, and maintains the Belgian railway network.

South Crystal in Brussels the KanAm Grund European Cities KI’s sixth property asset. The fund now holds investments in three major European cities, Brussels, Dublin, and Lyon.

The KanAm Grund Group has handled a transaction volume of over $35 billion since it was established in October 2000. The company focuses on the needs of German and international investors, with a geographical emphasis on Europe and the United States.