KINGSTONE Real Estate acquires fully let healthcare property in Mölln for German special AIF

KINGSTONE Real Estate has acquired a mixed-use healthcare asset in Mölln (Schleswig-Holstein) for its healthcare real estate AIF.

The sales price was undisclosed.

The vendor of the fully let property is Erste Grundstücksgemeinschaft Elbe-Lübeck-Kanal GmbH & Co. KG.

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 center (Lebenshilfewerk Kreis Herzogtum Lauenburg), a daycare center, a catering service provider with bistro, and various office tenants as well as residential users.

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 t