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1 December 20214 minute read

DLA Piper advises KINGSTONE Real Estate on acquisition of residential and office property

DLA Piper has advised investment management group KINGSTONE Real Estate on the acquisition of a residential and office property in the Bavarian city of Ingolstadt in an off-market transaction on behalf of its KINGSTONE Bavaria Süd (KBS) fund, a single-client institutional investment vehicle. The seller of the property with approx. 4,300 m2 of rental space is a private sellers’ association.

The multi-tenant property was built in 2009 and is fully leased out with a WAULT of approx. 2.5 years. The rental space is divided between approx. 950 m2 of residential and 3,350 m2 of office space. The property is conveniently located just seven minutes by foot from Ingolstadt’s main train station and directly opposite a large city park.

KINGSTONE Real Estate particularly established KBS, an open-end alternative investment fund, for Sparkasse Rosenheim-Bad Aibling, a savings bank based in the southern German city of Rosenheim. IntReal International Real Estate has been appointed as the fund’s service-providing capital management company (KVG). KBS invests in core properties throughout southern Bavaria, including residential, office, logistics, healthcare and other care facilities. The fund’s total target is at least EUR 150 million and the ticket price for individual properties lies within the range of EUR 15 to 25 million.

KINGSTONE Real Estate is an owner-managed real estate investment management group offering a wide range of investment products and a holistic approach for German and international institutional investors. KINGSTONE's business area includes real estate project development as well as mezzanine financing, transaction, asset and portfolio management. The group has approximately EUR 1.1 billion assets under management and employs more than 75 people.

The DLA Piper team was led by partner Dr Martin Haller and counsel Dr Manuel Indlekofer (both Real Estate, Munich) and also included partner Dr Marie-Theres Rämer (Tax, Frankfurt), senior associates Thomas Herbst, Markus Kotowski (both Real Estate, Munich), Eda Altintas (Tax Frankfurt) and associates Dr Lilian Gutkin and Alice Hertel (both Real Estate, Munich).