Kingstone Investment Management is planning to raise up to €400m for a new German residential real estate fund.

The manager has launched the open-ended Kingstone Wachstumsregionen Süddeutschland II fund (KWS II) to make sustainable real estate investment throughout southern Germany.

Kingstone said the fund, which expects to raise between €350m and €400m, has already raised €80m with a further €30m commitment expected. 

The manager said the fund has also secured a €180m investment pipeline.

The fund will mainly focus on urban neighbourhoods which are largely residential and which offer good local conveniences such as food retailers.

Tim Schomberg, managing partner of Kingstone, said: “Urban quarters are taking on important functions in modern urban societies because they are able to serve a wide range of needs – daily provisions, short commutes, quality of life – through the mix of usage types.

“We prefer to invest in such quarters, or in individual properties in urban quarters, to generate income, which is reliable and sustainable, in every sense of the word.”

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