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CORESTATE CAPITAL HOLDING S.A. (FRA:LU129675) CORESTATE expands its institutional housing funds: New building project 'Quartier Kreuzstraße' purchased in Leipzig-Mitte

Directive transparence : information réglementée

23/12/2019 07:00

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Acquisition
CORESTATE expands its institutional housing funds: New building project 'Quartier Kreuzstraße' purchased in Leipzig-Mitte

23.12.2019 / 07:00
The issuer is solely responsible for the content of this announcement.


CORESTATE expands its institutional housing funds: New building project "Quartier Kreuzstraße" purchased in Leipzig-Mitte

  • Institutional fund with at least 4% yield distribution/year
  • Three revitalization properties and two new buildings in a popular central location in Leipzig
  • Energy-efficient building meets high KfW criteria and corresponds to CORESTATE's ESG strategy
  • Total investment volume of over EUR 57 million
  • Undiminished demand for residential investments among institutional clients

Frankfurt, December 23, 2019. CORESTATE Capital Holding S.A. (CORESTATE), a leading independent investment manager for real estate in Europe, has acquired a new residential property in Leipzig-Mitte for its open-ended special AIF "CORESTATE Residential Germany III" (CRG III, minimum target volume EUR 300 million, average yield distribution of at least 4% p.a.). The so-called "Quartier Kreuzstrasse" involves the revitalization of three existing properties, two of which are listed buildings, and two new buildings. Thanks to its energy-efficient construction it meets the high KfW criteria for monuments and new buildings. The total investment volume will exceed EUR 57 million. CRG III is primarily aimed at institutional investors such as savings banks and invests in new residential properties in metropolitan regions and prospering cities throughout Germany.

Lars Schnidrg, CEO of CORESTATE Capital Group: "High-quality residential space is in increasing demand due to the ongoing urbanization. These residential properties therefore are a very attractive investment opportunity for our institutional clients. We not only identify suitable properties, but also accompany our clients throughout the entire value creation process of their real estate investments. The project in Leipzig will also benefit from our many years of revitalization expertise and, above all, compliance with important ecological standards in accordance with the voluntary commitment made by our ESG strategy."

The project is located in a central and popular residential area of Leipzig (Lange Straße/ Kreuzstraße/ Ludwig-Erhard-Straße) with excellent transport connections. With total rental space of almost 12,500 m², 190 high-quality rental apartments and 5 commercial units as well as 117 underground parking spaces will be created. Completion is scheduled for the third quarter of 2022.


Press Contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com

IR Contact
Dr. Kai Gregor Klinger
T: +49 69 3535630107 / M: +49 152 22755400
ir@corestate-capital.com


About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with more than €26 billion in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 42 offices, e.g. in Frankfurt, London, Madrid, Singapore and Zurich. The company employs around 700 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Further information may be found at www.corestate-capital.com.

Forward-looking statements
This press release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at www.ir.corestate-capital.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.



23.12.2019 Dissemination of a Corporate News, 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: Corestate Capital Holding S.A.
4, Rue Jean Monnet
L-2180 Luxembourg
Luxemburg
Phone: +49 69 3535630-107
Fax: +49 69 3535630-29
E-mail: IR@corestate-capital.com
Internet: www.corestate-capital.com
ISIN: LU1296758029
WKN: A141J3
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 942067

 
End of News DGAP News Service

942067  23.12.2019 

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