- Acquisition of a core property with strong tenants in Ottobrunn
- Special property fund “KINGSTONE Wachstumsregionen Süddeutschland“ already 65% invested
- Fourth acquisition for the KINGSTONE fund
Munich, 03 March 2020 – KINGSTONE Investment Management (KINGSTONE IM) has acquired the “Panasonic Campus” commercial complex in Ottobrunn (near Munich) in an off-market transaction. The asset is now part of KINGSTONE’s special property fund called „KINGSTONE Wachstumsregionen Süddeutschland“(KWS). KINGSTONE paid around EUR 50 million for the nearly fully let Panasonic Campus. REVCAP, a Pan-European private equity investor, was the seller.
Panasonic Campus, located in Robert-Koch-Strasse 100, was built in 2002 and offers around 20,300 m² of total GLA. It includes 14,200 m² of office, 4,400 m² of logistics and 1,700 m² of ancillary space. The main tenant and eponym of the building is electronics manufacturer Panasonic. Bosch is another high-profile tenant.
The property offers 218 parking spaces. It is well connected via travel links such as the nearby A8 motorway, which links Austria and Luxembourg via Munich and Karlsruhe as well as public transport bus station “Taufkirchen/Lilienthalstraße” just 130 meters away.
“We achieved an early increase in value due to the optimization of the user structure as well as a new long-term rental agreement with Panasonic. We are glad to pass this core property on to a new investor”, says Matthias Wilke, managing partner of REVCAP.
Dr. Tim Schomberg, managing partner of KINGSTONE IM, says: “The transaction proves our capability to find sustainable investments for our clients in a competitive market. Panasonic Campus is a long-term investment offering stable cash flows due to high-quality tenants. This makes it an ideal fit for our fund strategy.” The KINGSTONE KWS fund, launched in mid-2019, now contains seven properties and is already 65% invested. Arnecke Sibeth Dabelstein advised the transaction on the legal side, while X Project was responsible for the technical due diligence.
The “KINGSTONE Wachstumsregionen Süddeutschland” fund is focused on commercial real estate and targeted at German institutional investors who will invest in ticket sizes from EUR 3 million. The fund pursues a long-term holding strategy and targets a distribution yield of more than 4% a year. The total investment volume is set at least EUR 300 million with a debt ratio of less than 50%. Universal-Investment is acting as the service AIFM for this fund.
About KINGSTONE Investment Management
KINGSTONE Investment Management (KINGSTONE IM), founded by the Schomberg family, is an owner-managed real estate investment management boutique offering a broad range of investment products and a holistic investment approach for institutional German and international capital.
KINGSTONE IM unites a first-class real estate pipeline with the exceptional national and international capital and partner network of our senior management. We link the proven track record of our strategic co-shareholder PEGASUS Capital Partners as project developer and mezzanine specialist to multiple decades of experience in the international, institutional fund business of the Schomberg family and deliver this combination as a service to our clients.
More information available at: www.kingstone-im.com
REVCAP is a pan-European real estate investor with offices in Frankfurt, London, Paris and Stockholm. Founded in 2004, the company initiates and finances real estate investments with locally operating joint venture partners. Since its inception, REVCAP has invested in a portfolio of over EUR 9 billion, of which more than EUR 1.5 billion is attributable to its German operations.
More information available at: www.revcap.co.uk
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