Munich / Dettenheim, 21 June 2022 – In an off-market transaction, KINGSTONE Real Estate has acquired a nursing home with 70 single bedrooms in the German federal state of Baden- Württemberg for the “KINGSTONE Living & Care I” fund. The vendor of the property in Humboldstrasse 1 in the town of Dettenheim is GFS Bauträger- und Immobilienvermittlungs-GmbH.
The building with high-quality structure comprises a gross floor area of around 4,000 m² and was built in 2019. It meets all the requirements of a modern nursing home. It is situated in a residential zone in the heart of Dettenheim’s Liedolsheim district, in the direct neighbourhood of an elementary school. Single tenant INCURA GmbH operates a senior citizen residence here under the name, “Senioren-Residenz Dettenheim”, with 70 full inpatient nursing spaces. Besides the geriatric-psychiatric living area with sensory garden, the facility also accommodates a “Young Care” living area for patients under 60 with somatic illnesses. The nursing services provided encompass full inpatient care, as well as interspersed short-term care and interspersed prevention care. The nursing facility enjoys a constantly high bed occupancy rate due to the high quality of the service offering and the building.
KINGSTONE Real Estate issued the Alternative Investment Fund (AIF) together with capital management company (KVG) IntReal International Real Estate Kapitalverwaltungs-gesellschaft, in accordance with article 8 of the Sustainable Finance Disclosure Regulation (SFDR). The fund’s target volume lies at a gross asset value of EUR 400m.
Paul Muno, Managing Partner of KINGSTONE Living & Care GmbH, says: “The property in Dettenheim is a perfect fit for the strategy behind KINGSTONE Living & Care I. The building quality is outstanding and there is a long-term contract in place with a superbly positioned regional operator. We are pursuing a buy-and-hold strategy and seeking strong combinations of established operators and sustainable properties, right across Germany.”
In the transaction, KINGSTONE Real Estate was advised by DLA Piper (legal services), x.project AG (technical services), agradblue (ESG), Terranus (Commercial Due Diligence) and the estate agents SV-Rege. The bank “Bank im Bistum Essen eG” acted as financier.
This is a marketing communication, drawn up by KINGSTONE Living & Care GmbH, the asset and property manager of the KINGSTONE Living & Care I fund. It does not serve as investment brokerage or investment advice. Detailed product-specific information and notes related to the opportunities and risks of the funds managed by IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH (“INTREAL”) can be derived from the respective applicable contract documents (i.e. the investment terms and other contract documents, the information contained in the document drawn up in accordance with § 307 KAGB, and – in the case of semi-professional investors – the key investor information). These documents form the sole binding basis for the purchase of shares in the fund. Please consider these carefully before you make a final investment decision. The fund is an actively managed fund, which is not administrated in relation to a reference index.
The fund is an open-ended special alternative investment fund (AIF) with fixed investment terms in accordance with § 284 KAGB and may not be marketed to private investors according to § 1, paragraph 19, no. 31 KAGB.
A German-language summary of the investor rights is available in electronic form at https://www.intreal.com/wp-content/uploads/2021/07/Zusammenfassung-der-Anlegerrechte.pdf. Upon request, we will send you the same in hardcopy form, free of charge. You can request this from IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH, Ferdinandstrasse 61, 20095 Hamburg. The future performance of the fund is also dependent on the investor’s personal situation as regards taxation, and is subject to change in the future. Please note that this document neither constitutes nor substitutes legal or tax advice. This document and the assumptions contained therein have been drawn up with due care and in reliance on the correctness of data provided to us by third parties; nevertheless, we cannot assume any liability for the correctness, completeness or currency of this information. As the parameters upon which this document is based are also subject to change, it is possible that these assumptions can no longer be upheld at a later point in time.
Source: KINGSTONE Living & Care GmbH (status Q2 2022), provided no other sources are stated.
About KINGSTONE Real Estate
KINGSTONE Real Estate is an owner-managed real estate investment management group founded by the Schomberg family and Pegasus Capital Partners offering a wide range of investment products and a holistic approach for German and international institutional investors.
KINGSTONE combines a top-notch real estate deal and project pipeline with the excellent access of our senior management to national and international investors. Our strategic co-owner Pegasus offers capabilities and a proven track record as project developer and mezzanine specialist. Combining this with the Schomberg family’s decades of experience in the international and institutional real estate fund business enables us to generate sustainable returns for our clients.
More information available at: www.kingstone-group.de
Press contact for KINGSTONE Real Estate:
Feldhoff & Cie. GmbH
Associate Director | CIRO
Telefon: +49 (0) 69-264 867 718