20.04.2021 GIEAG Immobilien AG  DE0005492276

GIEAG Immobilien AG: KINGSTONE Investment Management purchases MAYOFFICE from GIEAG Immobilien AG


DGAP-Media / 20.04.2021 / 11:21


Stuttgart: KINGSTONE Investment Management purchases MAYOFFICE from GIEAG Immobilien AG

Munich/Stuttgart, 20.04.2021 - KINGSTONE Investment Management (KINGSTONE IM) has acquired the office property MAYOFFICE in Stuttgart from GIEAG Immobilien AG for its Special AIF "KINGSTONE Wachstumsregionen Süddeutschland" (KWS). The purchase price is in the mid double-digit million euro range.

The new construction project, located at Maybachstrasse 20, has a gross floor area of approx. 10,000 m² and is scheduled for completion in the second quarter of this year. More than 80 per cent of the available areas have already been leased in the long term, with tenants including the IT firm ADWEKO Consulting, ISM International School of Management, and the Stuttgart-based notary public Christiane Stoye-Benk. Talks are also being held on leases for the remaining areas, with the effect that it is to be expected that additional lease agreements will be concluded in a timely manner.

MAYOFFICE is part of a quarter development comprising two multifunctional structures - the adjacent MAYLIVING will accommodate 67 apartments as well as a day-care centre for children and an additional retail unit for an ice cream parlour. Well-known venues in the city such as the Theaterhaus Stuttgart and Friedrichsbau Varieté theatres as well as Höhenpark Killesberg public park are in the immediate vicinity. "With MAYOFFICE we are not just creating attractive office areas in the long term, but also setting urban development standards, of which we are very proud," says Thomas Männel, a board member at GIEAG Immobilien AG. "We were able to post several leasing successes before the completion of the project. This is testimony to its high quality and shows that first-class office space in prime locations is in demand despite the current pandemic. In KINGSTONE IM we have found a partner who recognises and appreciates well-balanced and well thought-out concepts just as we do. We believe that with MAYOFFICE we have laid the foundation for many more joint projects in the future."

"The project stands out thanks to its very good micro location, appealing architecture with a greened inner courtyard and roof terraces, as well as ultra-modern office areas. The optical integration of the outdoor areas into the new square in front of the neighbouring theatre not only makes the property attractive for tenants but also for the users of the surrounding buildings," adds Philip Greilich, Head of Transactions Commercial Germany at KINGSTONE IM. "With charging stations for electric cars, a sufficient number of bicycle stands, as well as sanitary areas with showers and changing facilities, we are also taking into account sustainable mobility concepts. Furthermore, we are aspiring to attain LEED Gold sustainability certification."

The special alternative investment fund KWS primarily invests in core office properties and commercial real estate in selected growth regions in southern Germany, and is geared towards institutional investors. The risk-return profile of MAYOFFICE is within the target range of the special AIF and contributes to its diversification in terms of geography and the tenant structure. The special AIF was launched in the summer of 2019 and is already fully invested to a large extent.

Dr. Tim Schomberg, Managing Partner at KINGSTONE IM, underlines: "The transactions since the launch of the fund show that we can quickly call capital commitments. The excellent access to first-class products through our network will also safeguard this with future acquisitions. With MAYOFFICE we are securing a sustainable office property for our investors which is attractive in the long term. The location, fit-out and LEED certification suit the profile of KWS in an outstanding manner."

KINGSTONE IM was advised on the transaction by DLA Piper (legal due diligence), Drees & Sommer (technical due diligence), and on tax issues by ARNECKE SIBETH DABELSTEIN. The law firm GSK Stockmann provided support for GIEAG Immobilien AG.

About KINGSTONE Investment Management
KINGSTONE Investment Management (KINGSTONE IM), founded by the Schomberg family, is an owner-managed real estate investment management boutique offering a wide range of investment products and a holistic investment approach for institutional German and international capital.
KINGSTONE IM unites a first-class real estate pipeline with the exceptional national and international capital and partner network of our senior management. We link the proven track record of our strategic co-shareholder PEGASUS Capital Partners as project developer and mezzanine specialist to several decades of experience in the international, institutional fund business on the part of the Schomberg family and deliver this combination as a service to our investors.

More information under: www.kingstone-im.com

About GIEAG Immobilien AG:
GIEAG is a family-run, Munich-based public limited real estate company. Shares in GIEAG Immobilien AG are traded on the Munich Stock Exchange. Combining three asset classes -- office, residential, and logistics - and two service areas - development and portfolio management - the company brings to market a range of uniquely stable investment opportunities. GIEAG's team of experts stands as a guarantor for innovative and forward-looking real estate investment concepts.

Over the past 20 years, GIEAG Immobilien AG has developed and optimised a substantial number of properties with floor areas of up to 145,000 square metres in projects involving individual investment of between EUR 15 million and EUR 150 million. Partnership, transaction security, consistency and agility are the guiding principles by which GIEAG Immobilien AG achieves its long-term goals of increasing shareholder value.


End of Media Release

Issuer: GIEAG Immobilien AG
Key word(s): Real estate

20.04.2021 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: GIEAG Immobilien AG
Oettingenstrasse 35
80538 München
Phone: +49 89 290516-0
Fax: +49 89 290516-11
E-mail: [email protected]
Internet: www.gieag.de
ISIN: DE0005492276
WKN: 549227
Listed: Regulated Unofficial Market in Munich (m:access)
EQS News ID: 1186665

End of News DGAP Media

1186665  20.04.2021 


Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 65,38 12,85 22,79 11,45 9,62 81,99 83,00
EBITDA1,2 16,21 1,74 8,11 36,44 2,93 31,58 32,40
EBITDA-Marge3 24,79 13,54 35,59 318,25 30,46 38,52 39,04
EBIT1,4 15,40 -0,16 4,44 33,13 0,24 28,75 29,40
EBIT-Marge5 23,55 -1,25 19,48 289,34 2,50 35,07 35,42
Jahresüberschuss1 10,63 -2,37 -1,36 27,04 -6,26 15,93 16,50
Netto-Marge6 16,26 -18,44 -5,97 236,16 -65,07 19,43 19,88
Cashflow1,7 5,54 -10,19 -24,94 -42,95 -0,10 23,58 0,00
Ergebnis je Aktie8 2,56 -0,56 -0,33 6,49 -1,50 3,82 5,80
Dividende8 0,24 0,24 0,36 0,80 0,80 1,00 1,20
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: LKC Treubeg

GIEAG Immobilien
WKN Kurs in € Einschätzung Börsenwert in Mio. €
549227 21,600 90,72
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
10,80 6,87 1,65 13,04
1,85 3,85 1,11 13,77
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
1,00 1,20 5,56 23.06.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
07.12.2021 23.06.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-2,72% 7,48% 3,92% 21,84%
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Immobilien (Gewerbe) , 549227 , 2GI