German fund manager KanAm puts four of their properties up for sale to raise necessary funds

German fund manager KanAm is in need of money in order to pay back its investors and has therefore put four properties up for sale to raise the necessary funds.

So far, two of the properties have been bought by PNB Holdings – one of which houses law firm Olswang, and the other which serves as the headquarters for the European Bank for Reconstruction and Development.

Olswang rents £140m office space in High Holborn from KanAm, and the European Bank for Reconstruction and Development rents office space in Broadgate, initially bought by KanAm in 2007 for £400m.

PNB have also made recent purchases in the form of the Woolgate Exchange in the City of London for just under £300m, as well as Milton and Shire House for over £300m from Beacon Capital Partners in December.

Having sold their High Holborn and Broadgate properties, two of KanAm’s properties still remain on the market. These buildings currently house international news agency Thomson Reuters, situated in South Colonnade, E14, and worth £185m, and the UK headquarters of Deutsche Bank, worth £200m and located in Winchester House on London Wall.

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