Owner-managed real estate investment management group Kingstone Real Estate has launched a special fund on behalf of Sparkasse Rosenheim-Bad Aibling, the savings bank based in the southern German city of Rosenheim.
The Kingstone Bavaria Süd fund has been created as an institutional investment vehicle with a total volume of at least €150 mln.
The vehicle will acquire core properties in southern Bavaria, including residential, office, logistics, healthcare and other care facilities.
Harald Kraus, member of the executive board of 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.'
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 ticket price for individual properties is expected to be in the range of €15-€25 mln.
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.'
IntReal International Real Estate has been appointed as the fund’s service-providing capital management company (KVG).
