Kingstone Investment Management has acquired a €50m commercial complex in the southeast of Munich on behalf of a fund.
The Kingstone Wachstumsregionen Süddeutschland (KWS) fund has bought the Panasonic Campus in Ottobrunn from pan-European private equity investor Revcap.
Located in Robert-Koch-Strasse 100, Panasonic Campus was built in 2002 and the nearly fully-leased asset offers around 14,200sqm office, 4,400sqm of logistics and 1,700sqm of ancillary space.
Matthias Wilke, managing partner of Revcap, said: “We achieved an early increase in value due to the optimisation 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.”
Tim Schomberg, managing partner of Kingstone IM, said: “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 KWS fund, launched in mid-2019, now contains seven properties and is already 65% invested. The fund’s total investment volume is set at least €300m with a debt ratio of less than 50%.
