Kingstone Real Estate has established a strategic partnership with French asset manager Iroko to facilitate investment opportunities in Poland.
Under the terms of the agreement, Kingstone Re will identify cash-flow-generating assets located across Poland’s primary and regional urban centres for Iroko Atlas, a Société Civile de Placement Immobilier (SCPI) managed by the French firm.
Targeted types of use include office, retail, logistics, hotels and light industrial. Asset volume is expected to range between €2 million and €20 million. Iroko plans to hold the assets long term while managing them to increase their value.
The first asset of this cooperation has already been acquired. The Nowa Kamienica office project in Kraków is the first investment within the scope of the cooperation. The asset was completed in 2004 and is located on Rakowicka, close to Kraków's main railway station and Old Town. The asset is fully let to a tenant mix and was sold by real estate investment and advisory firm Martley Capital.
Philipp Schomberg, Co-Founder and CEO Poland at Kingstone Re, comments: "Our expertise, network and local presence in Poland make us the partner for investors entering the Polish market. We believe Poland offers a market entry for cash flow-producing assets, not only in major but also regional cities."
Kingstone Re is an independent, family-run investment manager headquartered in Munich with offices in Poland, UK and the Benelux countries and a focus on real estate investments in these regions. The company manages real estate portfolios of around €1 billion in total.
