Munich, 12 July 2023 – The real estate investment manager, KINGSTONE Real Estate, has acquired a mixed-use healthcare asset in Mölln (Schleswig-Holstein) for their healthcare real estate AIF. The property is the historic main building at the Robert-Koch-Park, Hindenburgstrasse 13-15. The anchor tenant is the care service provider, “Leben & Pflegen Gahl”. In addition, there is a diversified, complementary range of tenants, including the Workers’ Welfare Association (Arbeiterwohlfahrt), Mölln Independent School, the community support centre (Lebenshilfewerk Kreis Herzogtum Lauenburg), a daycare centre, a catering service provider with bistro, various office tenants as well as residential users. The vendor of the fully let property is “Erste Grundstücksgemeinschaft Elbe-Lübeck-Kanal GmbH & Co. KG”.

The property was built as an army barracks during the period between 1913 and 1917 and originally accommodated a military school. Parts of the property are subject to monument preservation regulations. The current vendor acquired the property in 2013 and carried out extensive refurbishment and upgrading works. The property forms part of an agglomeration of different buildings and uses with the focus on healthcare. Aspects such as inclusion, ecology and diversity play a central role.

The extensive range of services offered in the community is complemented by a medical centre, a children’s daycare centre, an outpatient nursing centre, and a building of the community support centre with café, a bicycle workshop, garden and landscape maintenance and florists. The Robert-Koch-Park benefits from an immediate proximity to the local public transport network of the town of Mölln with a population of almost 20,000 inhabitants.

“We are delighted about the successful acquisition of an attractive healthcare property with long-term full occupancy, especially under the current, very challenging market conditions”, says Paul H. Muno, Managing Partner of KINGSTONE Real Estate. “The negotiations with the vendor were marked by a high degree of fairness, allowing us to complete the acquisition of this over-100-year-old property for our fund. We continue to view healthcare real estate as an asset class with a great future.”

The transaction was initiated by Hanseatic Real Estate GmbH and was further accompanied by Pinsent Masons Munich (legal due diligence), STANE GmbH (technical due diligence), agradblue GmbH (ESG due diligence), and BFS Service GmbH (social market analysis/commercial due diligence).

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About KINGSTONE Real Estate

KINGSTONE Real Estate is an owner-managed real estate investment management group founded by the Schomberg family and Pegasus Capital Partners which offers a wide range of investment products and a holistic approach for German and international institutional investors.

KINGSTONE combines a top-notch real estate deal and project pipeline with the superb network of our senior management team among both providers and users of real estate capital. We maximise opportunities for our clients by pairing the proven capabilities and track record of strategic co-owner Pegasus Capital Partners as project developer and mezzanine specialist together with the Schomberg family’s decades of experience in the international and institutional real estate fund business.

More information available at: www.kingstone-group.de

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Daniel Gabel
Feldhoff & Cie. GmbH
Associate Director | CIRO
Phone +49 (0) 69-264 867 718
dg@feldhoff-cie.de

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