Frankfurt — Paul Hastings, an elite global law firm, announced that the firm advised KanAm Grund Group on the acquisition of a logistics and light industrial portfolio by way of an asset deal.

KanAm Grund Group has acquired a logistics and light industrial portfolio in Germany for an institutional real estate special fund. The seller was a joint venture consisting of Bechtolsheim Real Estate and Zamberk Real Estate Ventures (ZREV). The portfolio comprises four assets in Bad Hersfeld, Dreieich, Meckenbeuren und Nettetal. While the properties in Dreieich, Meckenbeuren and Nettetal are leased existing buildings, the property in Bad Hersfeld will be constructed for the tenant, Deutsche Post Immobilien, and has been acquired as a forward deal. In total, the portfolio comprises approximately 24,000 square metres of rentable space. The parties have agreed not to disclose the purchase price.

The Paul Hastings team advising KanAm Grund Group was led by real estate partner Dr. Jan Gernoth and included associates Hannes Riedel and Marc Soltau and tax advisor Uwe Halbig.

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About KanAm Grund Group:

KanAm Grund Group, an independent German company based in Frankfurt, has developed into an international real estate specialist over the past 20 years. Since its formation in October 2000, it has achieved a transaction volume of approximately EUR 30 billion and currently manages assets of EUR 6 billion (according to CLA).