KanAm - Our History

Company History

Long Years of Experience – The History of KanAm
1978	Formation of KanAm Grundbesitz GmbH Launch of first closed-end KanAm US Fund
1983	Launch of first closed-end KanAm Deutschland Fund
1984	Launch of first closed-end KanAm Shopping Mall Fund in the US as a joint venture with Mills' predecessor, Western Development
1985	Sale of first KanAm US Fund with total returns after tax of 322 percent, representing a return after tax of 44.4 percent p.a.
1989	Sale of second KanAm US Fund with total returns after tax of 342 percent, representing a return after tax of 26.9 percent p.a.
1990	Investment volume reaches 1 billion D-marks
1994	Mills Corporation goes public (NYSE) as a Real Estate Investment Trust (REIT), KanAm is founding stockholder and holds the largest individual stake Sale of first three KanAm Deutschland Funds with total returns after tax of 271 to 314 percent, representing profits after tax of 15.5 to 21.4 percent p.a.
1996	Sale of KanAm Deutschland Fund IV with total returns after tax of 239 percent, representing a return after tax of 12.7 percent p.a.
1997	Sale of KanAm Deutschland Fund V and KanAm Deutschland Fund VI with total returns after tax of 271 and 239 percent respectively, representing a return after tax of 14.3 and 12.7 percent p.a.
2000	Formation of KanAm Grund Kapitalanlagegesellschaft mbH, Frankfurt/Main, Germany Formation of Westwind Capital Partners Construction work starts on HighLight Towers/Parkstadt Schwabing high-rise complex, architect: Helmut Jahn
2001	Launch of KanAm grundinvest Fonds, the first non-bank, independent open-ended real estate fund in Germany
2002	The open-ended real estate fund KanAm grundinvest Fonds achieves a performance of 7.3 percent and is ranked first in the statistics published by the BVI (German investment management association) Two closed-end office funds launched with WestWind Capital Partners: "The Investment Building" in Washington, D.C., and "Wachovia Financial Center" in Miami
2003	Dissolution of the closed-end Mills funds KanAm USA III, KanAm USA V and KanAm USA VI and distribution of 90 million US dollars to the participating investors. Investors in these funds posted an average return on their investment of 18.7 percent p.a. Launch of KanAm US-grundinvest Fonds, the first open-ended real estate fund in US dollars to be authorized in Germany Sale of closed-end Mills funds KanAm USA VII to KanAm USA X and distribution of 160 million US dollars to the participating investors. Investors in these funds posted an average return on their investment of 10.3 percent p.a. Formation of KanAm Grund Spezialfondsgesellschaft mbH, Frankfurt,/Main, Germany, and its authorization by German Federal banking Authority (BaFin) to conduct investment business
2004	Dissolution of the closed-end Mills funds KanAm USA IV, KanAm USA XI, KanAm USA XIII and partial dissolution of KanAm USA XII and distribution of 145 million US dollars to the participating investors. Investors of the closed-end Mills funds KanAm USA IV, KanAm USA XI, KanAm USA XIII posted an average return on their investment of 14.05 percent p.a., investors of KanAm USA XII posted an intermediate result on their investment of 8.30 percent p.a. Sale of Commonwealth Tower (Washington/Rosslyn) on behalf of KanAm grundinvest Fonds, generating a return on investment in excess of 20 percent since acqusition in 2002 Sale of a 50% joint-venture interest in the super regional US Shopping Mall Ontario Mills, Los Angeles/California on the open market. The closed-end Mills funds KanAm USA XIV and XXI formerly invested in Ontario Mills. Investors posted a return on their investment between 8.6 and 27.6 percent p.a.
2005	KanAm Grund Spezialfondsgesellschaft mbH, Frankfurt, Germany, launched its first open-ended real estate fund especially for institutional investors - KanAm SPEZIAL grundinvest Fonds
2006	Sale of the joint venture interest in the Investment Building. Investors posted an average pre-tax return on their investment of about 34 percent p.a. for a holding period of four years Sale of the joint venture interest in the Wachovia Financial Center. Investors posted an average pre-tax return on their investment of about 12.9 percent p.a. for a holding period of three years
2007	In December 2007 the KanAm Group expanded to include SachsenFonds, based in Aschheim-Dornach near Munich, as a result of acquiring a majority interest.