Kingstone Real Estate has acquired a mixed-use property at Kreillerstrasse 210 in Munich from a Luxembourgish investment firm for an open-ended real estate special fund (AIF).
The building, with a total rental area of 4,204 m², is currently fully let with a WALT of around 8 years. It includes an underground car park and ground-level parking spaces. Among the primary tenants are companies from the retail, fitness and office sectors, including, inter alia, a branch outlet of Postbank and the car rental firm, SIXT. The building was erected on a leasehold site in 2018 and is characterised by its high-quality fabric, modern fit-out and flexible floor layouts.
The mixed-use property is located in the economically strong district of Trudering in Munich, with very good local infrastructure links. Its close proximity to the local train station provides a direct link to the city centre around the trade fair city. Convenience retail stores and a bus stop are in direct vicinity to the building.
Dr. Tim Schomberg, Managing Partner of Kingstone Real Estate, says: “Resilience is more important than ever in the current market phase. The heterogeneous tenant structure of the property and its outstanding location ensure diversified cash flows for our investors. Altogether, we have secured an attractive investment for the fund.”
Kingstone Real Estate issued the open-ended real estate special fund (AIF) via the capital management company (KVG) IntReal International Real Estate Kapitalverwaltungsgesellschaft for the local savings bank Sparkasse Rosenheim – Bad Aibling. The core fund invests in residential, office, logistics, healthcare and social properties in southern Bavaria and is not in the distribution process.