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KGAL Investment Management acquires 12-story development for sustainable residential fund
Transactions - JANUARY 31, 2022

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KGAL Investment Management acquires 12-story development for sustainable residential fund

by Kali Persall

KGAL Investment Management has purchased the fifth property for its KGAL Wohnen Core 3 fund, a vehicle that invests in sustainable residential properties in Germany's key residential markets. The fund has €500 million ($559 million) of equity.

The residential development property, known as KönigsTOR, will form the new center of the Regensburg Königswiesen district in Germany. The up-to 12-story building will comprise 392 modern flats and six commercial units with an emphasis on daily needs.

The property is scheduled to be completed by mid-2023.

“In the eight months since the first closing of KGAL Wohnen Core 3, we have already allocated more than 70 percent of the fund’s €500 million [$559 million] equity,” said Christian Schulte Eistrup, head of the international client business at KGAL Investment Management. “In addition, we have achieved excellent regional diversification with the five properties in the portfolio, as we are now represented in th

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