Munich / Stuttgart, 15.07.2022 – KINGSTONE Real Estate has acquired an office building at Waldburgstrasse 17 and 19 in Stuttgart in an off-market transaction for the real estate fund “KINGSTONE Wachstumsregionen Süddeutschland”. The vendor is a joint venture between Peakside Capital and Partners Group.
The building is situated in the direct vicinity of Stuttgart-Vaihingen railway station and comprises around 6,200 m2 of rental space. It was built in 1987 and comprehensively refurbished in 2016. The tenants are different firms from the service and advertising sectors, as well as the University of Stuttgart. The office space is 100% let.
Dr. Tim Schomberg, Managing Partner of KINGSTONE Real Estate, says: “The Stuttgart region is one of the driving forces in Germany’s economy. In this regard, the district of Vaihingen scores not only as a university location, but also through its close proximity to renowned technology firms. For this reason, we consider the local sub-market to be an attractive long- term investment location.”
Simon Lutz, partner at Peakside, adds: “The office building was part of the Omega portfolio that we acquired for Peakside Real Estate Fund III in 2020. We have already achieved the asset management targets for about a third of the properties in the portfolio. They were sold to long-term portfolio holders; further sales are in preparation. The transaction in Vaihingen has again proven the value of the assets in the portfolio.”
KINGSTONE Real Estate issued the alternative investment fund (AIF), “KINGSTONE Wachstumsregionen Süddeutschland”, together with the capital management company (KVG) Universal-Investment. The fund invests primarily in core office real estate in selected growth regions in southern Germany.
Pinsent Masons (legal, tax), Drees & Sommer (technical), Westbridge (OpEx Due Diligence), Sparkasse Rosenheim-Bad Aibling (financing bank) and Emily Advisory provided KINGSTONE Real Estate with advisory services during the transaction. Peakside was advised by HauckSchuchardt (legal, tax).
This is a marketing communication, drawn up by KINGSTONE Investment Management GmbH, the asset and property manager of the KINGSTONE Wachstumsregionen Süddeutschland 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 Universal-Investment-Gesellschaft mbH („Universal“) 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 Investment Management GmbH (status Q3 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