Munich, 01 December 2021 – Owner-managed investment management group KINGSTONE Real Estate has acquired a residential and office property in the Bavarian city of Ingolstadt in an off-market transaction on behalf of its KINGSTONE Bavaria Süd (KBS) fund, a single-client institutional investment vehicle. The seller of the property located at Münchner Strasse 45-49 with approx. 4,300 sq.m. of rental space is a private sellers’ association.
The multi-tenant property was built in 2009 and is fully leased out with a WAULT of approx. 2.5 years. The rental space is divided between approx. 950 sqm. of residential and 3,350 sqm. of office space. The property is conveniently located just seven minutes by foot from Ingolstadt’s main train station and directly opposite a large city park.
KINGSTONE Real Estate particularly established KBS, an open-end alternative investment fund, for Sparkasse Rosenheim-Bad Aibling, a savings bank based in the southern German city of Rosenheim. IntReal International Real Estate has been appointed as the fund’s service- providing capital management company (KVG). KBS invests in core properties throughout southern Bavaria, including residential, office, logistics, healthcare and other care facilities. The fund’s total target is at least EUR 150 million and the ticket price for individual properties lies within the range of EUR 15 to 25 million.
“With its diversified tenant base and superb building quality, the property fits very nicely into the fund’s acquisition profile. The good location in an economically vibrant city promises reliable cash flows long into the future,” says Dr. Tim Schomberg, Managing Partner and Chief Executive Officer of KINGSTONE Real Estate. “We are delighted to be able to bring this first major portfolio asset into the fund very soon after its launch.”
KINGSTONE Real Estate was advised on the transaction by DLA Piper (legal and tax) and xProject (technical).
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 which offers 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 superb network of our senior management team among both providers and users of real estate capital. We maximise opportunities for our clients by pairing the proven capabilities and track record of strategic co-owner Pegasus Capital Partners as project developer and mezzanine specialist together with the Schomberg family’s decades of experience in the international and institutional real estate fund business.
More information available at: www.kingstone-group.de
Feldhoff & Cie. GmbH
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