Kingstone Investment Management and Universal-Investment have partnered to raised around €300m to invest in core office properties in southern and western Germany.
The duo have launched the Kingstone growth regions southern fund, targeted at German institutional investors.
In a joint statement, the investment firms said the fund which will have a debt ratio of no more than 50%, has already received capital commitments of more than €60m from savings and cooperative banks.
The fund pursues a long-term holding strategy and is aiming for a distribution yield of more than 4% per year.
Tim Schomberg, managing partner at Kingstone Investment Management, said the newly launched fund is already in advanced negotiations to buy three properties.
