- Press Release
- KINGSTONE Real Estate acquires urban quarter in the German city of Pforzheim from PHEROH
Neuss/Munich, 18 January 2022 – KINGSTONE Real Estate has acquired the residential quarter “Goldstück Pforzheim” from the PHEROH Group. The property is located in Pforzheim, a city in the state of Baden- Württemberg. KINGSTONE Real Estate is going to add the property to the portfolio of the sustainable residential fund “KINGSTONE Wachstumsregionen Süddeutschland II” (KWS II). Currently under development, the quarter is scheduled for completion in 2023 and will encompass around 8,500 m2 of rental space.
The urban quarter will bring together different types of usage. 28 of the total of 109 rental apartments will be developed to suit the needs of elderly occupants. All apartments are designed with loggias, balconies and fitted kitchens. Around 1,200 m2 of rental space is accounted for by commercial areas that can be used, for example, as retail, gastronomy or practice spaces. In addition to attractively landscaped outside facilities, the residential quarter also foresees 121 car parking spaces in the building’s own underground car park. It is planned to attain Gold DGNB certification upon completion. The project is situated on Durlacher Strasse and Belfortstrasse and lies within walking distance of Pforzheim city centre and the main railway station.
Dr. Tim Schomberg, Managing Partner and CEO of KINGSTONE Real Estate, explains: “The ‘Goldstück Pforzheim’ brings together all attributes of a sustainable residential quarter. The utilisation mix, with its focus on living space, fits very well in Pforzheim’s city centre. Our investors will benefit from this sustainable long-term investment.”
Robert Hiotoglou, Managing Partner of the PHEROH Group, says: “The design of ‘Goldstück Pforzheim’ exemplifies our philosophy as project developers. Projects of this kind in the urban space always demand that the components, age-compatible living space for the elderly and sustainability, are taken into consideration and adequately accounted for. This creates an attractive living environment for all generations.”
KINGSTONE Real Estate issued the open-ended residential real estate AIF (Spezialfonds) KWS II at the end of 2020 together with Service-KVG INTREAL. The core fund, with a total volume of between 350 and EUR 400m, is aimed particularly at financial institutions (Depot A), foundations and pension funds. In its acquisitions, KINGSTONE Real Estate focuses primarily on residential and food retail properties, particularly in dynamic urban areas. All properties are subjected to a sustainability review prior to acquisition.
The transaction was brokered by BNP Paribas Real Estate and Blue Tree Real Estate; Bornheim & Partner provided legal advisory services for the PHEROH Group. During the transaction, KINGSTONE Real Estate was advised by DLA Piper and Arnecke Sibeth Dabelstein (legal and fiscal services), by xProject (technical services) and by Agradblue GmbH (ESG 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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Press Contact
Daniel Gabel
Feldhoff & Cie. GmbH
Associate Director | CIRO
Phone +49 (0) 69-264 867 718
dg@feldhoff-cie.de
