Kingstone launches first fund
The Munich-based company Kingstone Investment Management, founded last October, has launched its first real estate spezialfonds together with the service KVG Universal-Investment, the “Kingstone Growth Regions Southern Germany”. Its target volume is around €300mn with a maximum debt ratio of 50%. The fund will invest in core office properties primarily in southern Germany and possibly also in western German markets. Kingstone Managing Partner Tim Schomberg said in an interview with TD that the initial portfolio involves three office properties in the Nuremberg region, adding that there will be access to off-market transactions through the network of minority shareholder Pegasus Capital Partners. Equity commitments exceeding €60mn have been made for the fund to date, largely from savings banks. This first fund should be fully invested in 24 to 30 months. Kingstone is also working on additional funds, with its next product expected to be a logistics fund.
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