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
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.
23.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Corestate Capital Holding S.A.|
|4, Rue Jean Monnet|
|Phone:||+49 69 3535630-107|
|Fax:||+49 69 3535630-29|
|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|