KINGSTONE Real Estate has entered into a cooperation agreement with the French asset manager Iroko. The goal: KINGSTONE RE is to identify properties in Poland with high current cash flows in good locations in the important Polish cities for Iroko Atlas, one of Iroko's funds. As part of the cooperation, KINGSTONE RE will provide deal sourcing and transaction advisory services.
The types of use sought include office, food retail, logistics and light industrial. The volume of the target properties is expected to be between two and 20 million euros. Iroko intends to hold the properties for the long term while actively developing them to increase their value.
A first office property in Krakow called "Nowa Kamienica" has already been acquired as part of the cooperation. The property was completed in 2004 and is located on Rakowicka Street, close to Krakow Central Station and the Old Town. The property is fully let and has an attractive tenant mix. The seller is the real estate investment and consulting firm Martley Capital.
Philipp Schomberg, Co-Founder and CEO Poland, at KINGSTONE RE, comments: "Our expertise, excellent network and strong local presence in Poland make us the ideal partner for international investors entering the Polish market. We are convinced that Poland offers attractive entry opportunities for assets with strong cash flows – not only in the major metropolises, but also in regional cities. As one of the most dynamic economies in Europe, Poland continues to show strong growth and resilience. We have the expertise to support investors in implementing appropriate strategies and achieve above-average returns."
