DGAP-News: Corestate Capital Holding S.A.
/ Key word(s): Real Estate/Sustainability
CORESTATE continues to consistently implement its ESG strategy and creates over
- 11 climate-friendly residential buildings according to the KfW55 standard
- Total investment just under EUR 60 million
- Sustainably secure return of 4% with the asset class German Residential
- Large German pension fund to benefit from CORESTATE's product access
- CEO Lars Schnidrig: "ESG is no dream of the future."
Frankfurt, February 17, 2020. CORESTATE Capital Holding S.A. (CORESTATE), a leading independent real estate investment manager in Europe, continues to follow its green line and is reacting to the housing shortage in the Rhine-Main region. The company will create urgently needed modern living space in Hanau with 11 buildings and 144 apartments on a total rental area of around 12,200 m². The properties that will be completed by the beginning of 2022, are particularly climate-friendly and meet the KfW55 standard. The total investment volume is just under EUR 60 million. The property is part of the fund assets of the institutional fund CORESTATE Residential Germany Fund II. The sole investor is a large German pension fund. The seller is LEG Hessen-Hanau.
Lars Schnidrig, CEO of the CORESTATE Capital Group: "With the asset class German Residential, we offer our clients sustainably secure investment opportunities at highly attractive returns of around 4 percent. This demonstrates our unique access to products that follow megatrends, such as the increasing demand for significantly more urban living space in Germany. At the same time, we are convinced that today sustainably profitable investing only works if clear, comprehensible ESG aspects are taken into consideration. For us, comprehensive standards for environmental, social and corporate governance are therefore no longer dreams of the future, but are already fully integrated into our investment process."
The project is being developed in the Pionier-Park Hanau in the Triangle Housing area on Aschaffenburger Strasse. In addition to 11 residential buildings, the plan is to build a high-rise garage with 218 parking spaces, 72 additional outdoor parking spaces and 290 bicycle parking spaces. There is also a good transport connection. Frankfurt's central station can be reached in just under half an hour by public transport via the nearby regional train station Wolfgang. The infrastructure includes several schools, daycare centers, a shopping center and restaurants.
17.02.2020 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:||976431|
|End of News||DGAP News Service|