It's been a busy period for recently-founded independent investment boutique Kingstone Real Estate, adding to one of its existing funds and at the same time launching its own healthcare investment platform.
The company is headed by the Schomberg family along with Pegasus Capital Partners, with Bärbel Schomberg a well-known figure in the German real estate world, having headed the Allianz and Aberdeen Asset Manager fund operations for many years. Although based in Munich, the name Kingstone has its roots in Königstein outside of Frankfurt.
Kingstone recently bought an office development in Stuttgart from GIEAG Immobilien for an undisclosed price for its Kingstone Wachstumsregion Süddeutschland (KWS) institutional fund. The KWS fund is aimed at institutionals and invests primarily in select growth regions in southern Germany.
The project, known as Mayoffice, will have 10,000 sqm and is scheduled for completion in the second quarter. It is flanked by Mayliving, a residential building housing 67 residential units along with a day-care centre and a retail outlet. The project is 80% pre-leased, with further signings expected shortly, Kingstone said.
Just this week Kingstone launched its Kingstone Living & Care (KLC) platform, through which it will invest in healthcare properties across Germany. Kingstone said the platform will enable national and international institutional investors to invest in care properties, age-appropriate forms of living, medical offices, rehabilitation clinics and other healthcare facilities through both funds and separate accounts. The company intends to invest across the entire risk-return profile, from core to value-add properties.
KLC will be headed up by Bärbel Schomberg herself along with healthcare veteran Sabine Bergmann as head of asset management. The first fund will be launched in the second half of this year, aimed primarily at German savings banks (Sparkassen), co-operative banks (Volksbanken and Raiffeisenbanken), insurance companies and pension funds.
Schomberg said, "KLC will provide our institutional clients with access to a market segment with an attractive risk-return profile which will play an ever greater future role.”
According to healthcare sector specialist Sabine Bergmann, “The healthcare property market is becoming increasingly important in Germany and elsewhere because of the challenges of demographic change. At the same time, investing in this sector is complicated. The entire market is heavily regulated, so a precise and detailed knowledge of the sector is essential for value-creating investments, particularly future-oriented care concepts and individualised living arrangements.
"Our mission and vision is to help shaping attractive future living and care possibilities for today’s sixty-year-olds as they prepare for their third phase of life in such a way that they can enjoy the benefits of both independent living and quality care.”
