DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate
CORESTATE closes 'High Street VII' Club Deal at an investment volume of EUR 212m
08.11.2018 / 08:03
The issuer is solely responsible for the content of this announcement.
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CORESTATE closes "High Street VII" Club Deal at an investment volume of EUR 212m
8 November 2018. CORESTATE Capital Holding S.A. (CORESTATE), a leading European investment manager for real estate, has closed its "High Street VII" Club Deal at an investment volume of EUR 212m. "High Street VII" encompasses a portfolio of 24 retail assets with 100,000 sq.m. of total GLA across 17 mid-sized German cities. Anchor tenants include dm, Müller, New Yorker and Rewe.
With the acquisition of a property in the pedestrian zone of Cloppenburg in northern Germany as the final transaction for "High Street VII", CORESTATE has fully placed the equity raised for the investment programme for the seventh time. The investment programme focuses on retail assets in prominent locations of German mid-sized cities.
The successor programme "High Street VIII" was launched in April 2018 and is already invested in assets in Rostock and Sindelfingen. The target investment volume will be c. EUR 250m. Overall, retail assets with a value of over EUR 2bn have been placed in the "High Street" programme line.
Thomas Landschreiber, CIO and co-founder of CORESTATE: "Our 'High Street' programme line offers an attractive alternative to the prevalent investment vehicles focused on A-cities. Our investors are still convinced of the success of retail assets in pedestrian zones of German mid-sized and prosperous cities. We will continue to pursue this approach while additionally diversifying our product range in the retail sector with further investment programmes."
PR Contact
Andre Zahlten
Phone: 108 / Cell phone:
IR Contact
Dr. Kai Gregor Klinger
Phone: 07 / Cell phone: 0
About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately EUR 25bn 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 including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 730 people and is listed in the regulated market (SDAX) of the Frankfurt Stock Exchange.
Further information is available at -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 [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.
08.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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