DGAP-News: Corestate Capital Holding S.A.
/ Key word(s): Real Estate
CORESTATE: With "Residential Germany Fund II" yet another residential property fund for institutional investors fully invested
Frankfurt, March 30, 2020. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, has yet another fully invested residential property fund, the open-ended Special-AIF CORESTATE Residential Germany Fund II (CRG II). The institutional fund comprises nine new construction projects in metropolitan regions and prospering cities throughout Germany. The majority of the portfolio is characterized by particularly climate-friendly construction in accordance with the KfW55 standard. The total investment volume is over EUR 320 million. The sole investor with equity of EUR 200 million is a large German utility company.
Lars Schnidrig, CEO of CORESTATE Capital Group: "We offer institutional customers unique access to secure and profitable investment properties and, with our product offering in the asset class German Residential, we are consistently following the increasing demand for high-quality urban living space in Germany. At the same time, we take their growing ESG requirements for investments into account. Our clients benefit from highly attractive returns of around 4 percent."
The properties are located in Hamburg, Kassel, Dresden and Kiel, among other cities. The most recent purchase is a residential complex in the Trier district of Weismark-Feyen with 94 units plus underground parking, which will be completed at the beginning of 2023. The total investment volume is approximately EUR 32.3 million. The rentable area is approx. 7,300 m².
30.03.2020 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:||1009891|
|End of News||DGAP News Service|