German investment management group Kingstone Real Estate has announced the launch of its first healthcare property fund targeting a gross asset value of €400 mln.
The vehicle, which is being issued together with IntReal International Real Estate Kapitalverwaltungsgesellschaft as the fund’s service-providing capital management company (KVG), will invest in full and partial inpatient nursing facilities, outpatient care facilities, assisted and age-appropriate living, as well as health centres and medical-care centres in Germany and Austria.
Gerontological rehabilitation clinics also fall within the investment focus of the open-ended alternative investment fund (AIF), which is called Kingstone Living & Care I.
Kingstone Real Estate has already carried out an initial equity capital closing for KLC I. The core fund is aimed particularly at financial institutions investing for their own accounts, foundations, pension funds and insurance companies. The focus will be on individual real estate assets beginning at an acquisition volume of around €10 mln.
'Due to the increasing demand arising from an aging society, the healthcare assets offer great potential for institutional investors, particularly under consideration of ESG criteria. Successful investments require very precise market expertise, though. We invest specifically in sustainable individual properties with modern building fabric and efficient operator concepts,' said Paul H. Muno, managing partner of Kingstone Living & Care.
'During the past months, we have built a team of healthcare specialists that has an in-depth understanding of both the investment and operating sides. We consider this to be the key component for long-term fruitful investments in this complex asset class", added Tim Schomberg, managing partner and CEO of Kingstone Real Estate.
