Kingstone Real Estate has set up an open-ended fund which plans to invest not less than €150m on behalf of German banking group Sparkasse Rosenheim-Bad Aibling.

The investment manager said the newly launched Kingstone Bavaria Süd fund, will acquire core properties in southern Bavaria, including residential, office, logistics, healthcare and other care facilities.

The fund’s acquisition targets will include both existing and newly built properties throughout the central and southern regions of Bavaria, Germany’s largest state by area and second largest by population. The fund will target asset worth between €15m to €25m each.

Harald Kraus, a member of the executive board of Rosenheim-based Sparkasse Rosenheim-Bad Aibling, said: “We see ourselves as partners to the people and the economy in our region. With Kingstone Bavaria Süd, we have a well-diversified real estate fund which will invest in and around our home market.

”The capital will flow exclusively into carefully selected market segments of whose economic future we are convinced.”

Tim Schomberg, managing partner of Kingstone Real Estate, said: “The economically vibrant regions of southern Bavaria offer attractive conditions for value-growing real estate investments. As a locally rooted investor, Sparkasse Rosenheim fully grasps the strengths of these regional markets.

“The track record of our existing real estate investment funds proves our superb access to attractive acquisition opportunities. We are very pleased about the trust which Sparkasse Rosenheim-Bad Aibling has placed in us and look forward to our continued cooperation.”

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