DGAP-News: Corestate Capital Holding S.A.
/ Key word(s): Real Estate/Acquisition
Frankfurt, July 27, 2020. Hannover Leasing, a subsidiary of Corestate Capital Holding S.A. (Corestate), has acquired Toshiba's former European headquarters in the city of Neuss. This represents an attractive core office investment for a closed-end special AIF in which a small number of institutional investors are to acquire a stake. WISAG Industrie Service Holding GmbH is the long-term tenant with a lease term of 15 years. Hannover Leasing is responsible for managing the related assets.
"We were able to structure a tailor-made investment solution for our clients based on our excellent regional access to the market. Based on a long-term cash flow profile, our target returns will be between 4.5 and 5 percent, and this in a prospering mixed-use quarter in the top 7 economic region of Düsseldorf," explained Nils Hübener, CIO of Corestate.
The spacious office complex (built in 1990) with 9,700 m² of rental space has been renovated and subjected to extensive modernization measures since 2019. It is located in the Hammfeld industrial park in Neuss, a mixed quarter of commercial and residential buildings that is only a few kilometers from the center of Düsseldorf and in the direct vicinity of one of the largest shopping centers in the region, the Rheinpark-Center. The complete rental space is expected to be handed over to WISAG in the third quarter of 2020.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and coinvestor with around EUR 28 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, Paris, Madrid, Zurich and Amsterdam. The company employs around 800 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Further information may be found at www.corestate-capital.com.
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.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.
27.07.2020 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:||1102241|
|End of News||DGAP News Service|