Saturday, 15 March 2025
KINGSTONE Real Estate (KINGSTONE RE) has acquired a mixed-use residential and retail development in Weil am Rhein from project and area developer BPD (Bouwfonds Immobilienentwicklung). The transaction was completed on behalf of the “KINGSTONE Bezahlbares Wohnen Deutschland” residential real estate fund, marking another strategic investment in affordable housing.
The development consists of 48 publicly subsidised rental apartments and 1,100 sqm of retail space. The forward deal includes both the 3,290 sqm plot and the turn-key construction of the building. Construction is set to begin by the end of the first quarter of 2025, with completion scheduled for late 2026. The deal was facilitated by HANSAINVEST Hanseatische Investment GmbH as the fund’s third-party AIFM. Estate agent Blue Tree Real Estate and legal advisors Heussen Rechtsanwaltsgesellschaft mbH supported the transaction, along with due diligence partners Case Real Estate, Arcadis Germany, and iib Consult. BPD received legal counsel from KFR Kirchhoff Franke Riethmüller Partnerschaft von Rechtsanwälten mbB. The financial details of the transaction remain undisclosed.
The development is located at the intersection of Hauptstraße and Riedlistraße, a prime spot in Weil am Rhein. The apartments, ranging in size from 55 to 100 sqm, will be distributed across three upper floors and an attic, catering to tenants seeking two- to four-room units. Residents will have access to an underground car park with 39 spaces, while an additional 33 surface parking spaces will be allocated to the retail units. Sustainability is a key feature of the project, with a green rooftop designed to capture rainwater, reduce particulate pollution, and provide natural insulation.
Dr. Tim Schomberg, Managing Partner and Co-Founder of KINGSTONE RE, highlighted the significance of this latest acquisition, stating: “We are pleased to secure our fourth real estate asset for the fund within a short period. Investor demand remains strong, reinforcing our commitment to affordable housing.”
Tobias Stüber, Head of Investor Sales & Strategic Projects at BPD, emphasized the importance of the project in addressing Germany’s housing shortage: “We are proud to contribute to the development of much-needed affordable housing in a challenging market. Finding a partner like KINGSTONE RE, which shares our vision, strengthens our commitment to future residential projects near the Swiss border.”
Ansgar Pape, Managing Director of KINGSTONE Residential Investments, underscored the security and long-term potential of subsidised housing investments: “The demand for affordable rental housing is at an all-time high, making these investments highly secure. We are actively evaluating additional properties and anticipate further acquisitions this year.”
Simon Lieb, Managing Director of KINGSTONE Residential Investments, noted that Bavaria and Baden-Württemberg are currently attractive markets for subsidised housing investments due to favorable public funding conditions. “This asset in Weil am Rhein aligns perfectly with our existing portfolio, which already includes two properties in Bavaria and another in Baden-Württemberg.”
Weil am Rhein, located in the South Baden region, offers strong infrastructure links and a prime location near the borders of France and Switzerland. Its proximity to the Rhine River and key international crossings makes it an attractive destination for both residents and businesses. The combination of affordability, strategic location, and sustainable features positions this development as a key addition to KINGSTONE RE’s growing real estate portfolio.
