Kingstone and Universal-Investment acquire three properties in Nuremberg for special property fund

Kingstone Investment Management has acquired three properties in Nuremberg with around 31,200 square meters of GLA for the “Kingstone Wachstumsregionen Süddeutschland” fund. The investors include savings and cooperative banks.

Kingstone acquires three properties Nuremberg. The properties, which have a purchase volume of almost EUR 90 million, are located in the city centre, the north and the south-east of Nuremberg. The office and business park buildings are almost fully let. Tenants include a listed German insurance company and a large, listed technology group.

Kingstone IM and Universal-Investment launched their first joint special property fund in June this year. The fund has a total investment volume target of around EUR 300 million and a debt ratio of no more than 50%.

Dr Tim Schomberg, Managing Partner at Kingstone IM: “The Nuremberg metropolitan region is characterised by economic growth and is considered to be a hidden champion in the real estate industry. This is clearly reflected in the tenant structure of the properties we have acquired, making them an ideal fit for our fund strategy. I am also pleased that we have been able to allocate almost all of the capital raised within just four months and that we have already attracted additional investors for the next closing.”

The “Kingstone Wachstumsregionen Süddeutschland” fund is focused on commercial properties and targeted at German institutional investors who will invest in ticket sizes from EUR 3 million. The fund pursues a long-term holding strategy and is aiming for a distribution yield of more than 4% per year. Universal-Investment is acting as the service AIFM for this fund.

Kingstone Investment Management, founded by the Schomberg family, is an owner-managed real estate investment management boutique offering a broad range of investment products and a holistic investment approach for institutional German and international capital.

The company links the proven track record of its strategic co-shareholder Pegasus Capital Partners as project developer and mezzanine specialist to multiple decades of experience in the international, institutional fund business of the Schomberg family and deliver this combination as a service to its clients.