{"id":1136,"date":"2021-04-20T12:24:22","date_gmt":"2021-04-20T10:24:22","guid":{"rendered":"https:\/\/www.gieag.de\/?p=1136"},"modified":"2022-02-14T11:55:49","modified_gmt":"2022-02-14T10:55:49","slug":"kingstone-investment-management-purchases-mayoffice-from-gieag-immobilien-ag","status":"publish","type":"post","link":"https:\/\/www.gieag.de\/en\/kingstone-investment-management-purchases-mayoffice-from-gieag-immobilien-ag\/","title":{"rendered":"KINGSTONE Investment Management purchases MAYOFFICE from GIEAG Immobilien AG"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]KINGSTONE Investment Management (KINGSTONE IM) has acquired the office property MAYOFFICE in Stuttgart from GIEAG Immobilien AG for its Special AIF \u201cKINGSTONE Wachstumsregionen S\u00fcddeutschland\u201d (KWS). The purchase price is in the mid double-digit million euro range.<\/p>\n<p>The new construction project, located at Maybachstrasse 20, has a gross floor area of approx. 10,000 m\u00b2 and is scheduled for completion in the second quarter of this year. More than 80 per cent of the available areas have already been leased in the long term, with tenants including the IT firm ADWEKO Consulting, ISM International School of Management, and the Stuttgart-based notary public Christiane Stoye-Benk. Talks are also being held on leases for the remaining areas, with the effect that it is to be expected that additional lease agreements will be concluded in a timely manner.<\/p>\n<p>MAYOFFICE is part of a quarter development comprising two multifunctional structures \u2013 the adjacent MAYLIVING will accommodate 67 apartments as well as a day-care centre for children and an additional retail unit for an ice cream parlour. Well-known venues in the city such as the Theaterhaus Stuttgart and Friedrichsbau Variet\u00e9 theatres as well as H\u00f6henpark Killesberg public park are in the immediate vicinity. \u201cWith MAYOFFICE we are not just creating attractive office areas in the long term, but also setting urban development standards, of which we are very proud,\u201d says Thomas M\u00e4nnel, a board member at GIEAG Immobilien AG. \u201cWe were able to post several leasing successes before the completion of the project. This is testimony to its high quality and shows that first-class office space in prime locations is in demand despite the current pandemic. In KINGSTONE IM we have found a partner who recognises and appreciates well-balanced and well thought-out concepts just as we do. We believe that with MAYOFFICE we have laid the foundation for many more joint projects in the future.\u201d<\/p>\n<p>\u201cThe project stands out thanks to its very good micro location, appealing architecture with a greened inner courtyard and roof terraces, as well as ultra-modern office areas. The optical integration of the outdoor areas into the new square in front of the neighbouring theatre not only makes the property attractive for tenants but also for the users of the surrounding buildings,\u201d adds Philip Greilich, Head of Transactions Commercial Germany at KINGSTONE IM. \u201cWith charging stations for electric cars, a sufficient number of bicycle stands, as well as sanitary areas with showers and changing facilities, we are also taking into account sustainable mobility concepts. Furthermore, we are aspiring to attain LEED Gold sustainability certification.\u201d<\/p>\n<p>The special alternative investment fund KWS primarily invests in core office properties and commercial real estate in selected growth regions in southern Germany, and is geared towards institutional investors. The risk-return profile of MAYOFFICE is within the target range of the special AIF and contributes to its diversification in terms of geography and the tenant structure. The special AIF was launched in the summer of 2019 and is already fully invested to a large extent.<\/p>\n<p>Dr. Tim Schomberg, Managing Partner at KINGSTONE IM, underlines: \u201cThe transactions since the launch of the fund show that we can quickly call capital commitments. The excellent access to first-class products through our network will also safeguard this with future acquisitions. With MAYOFFICE we are securing a sustainable office property for our investors which is attractive in the long term. The location, fit-out and LEED certification suit the profile of KWS in an outstanding manner.\u201d<\/p>\n<p>KINGSTONE IM was advised on the transaction by DLA Piper (legal due diligence), Drees &amp; Sommer (technical due diligence), and on tax issues by ARNECKE SIBETH DABELSTEIN. The law firm GSK Stockmann provided support for GIEAG Immobilien AG.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]KINGSTONE Investment Management (KINGSTONE IM) has acquired the office property MAYOFFICE in Stuttgart from GIEAG Immobilien AG for its Special AIF \u201cKINGSTONE Wachstumsregionen S\u00fcddeutschland\u201d (KWS). The purchase price is in the mid double-digit million euro range. The new construction project, located at Maybachstrasse 20, has a gross floor area of approx. 10,000 m\u00b2 and is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[93],"tags":[],"class_list":["post-1136","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KINGSTONE Investment Management purchases MAYOFFICE from GIEAG Immobilien AG - GIEAG<\/title>\n<meta name=\"description\" content=\"KINGSTONE Investment Management (KINGSTONE IM) has acquired the office property MAYOFFICE in Stuttgart from GIEAG Immobilien AG for its Special AIF\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gieag.de\/en\/kingstone-investment-management-purchases-mayoffice-from-gieag-immobilien-ag\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KINGSTONE Investment Management purchases MAYOFFICE from GIEAG Immobilien AG - 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