“CORESTATE works customer-oriented at all times and understand our needs as an institutional investor. The cooperation is always trustful and goal-oriented.”
Hannover Leasing has launched a new closed-end property AIF for private investors. The fund invests in the property named Quartier West, an office and hotel complex with 14,963 sqm of space, situated in Darmstadt south of Frankfurt. Investors can take tranches starting from EUR 10,000. The projected payout is 4.1% p.a. Referring to the equity, investors will receive a projected total payout of 146.46% for a ten-year term ending on 30/06/2029.
CORESTATE continued its profitable growth in the first nine months of the year. Including the recent acquisition of CRM Students, its assets under management now amount to more than EUR 25 billion. CORESTATE generated aggregate revenues of EUR 224.3 million in the first nine months of 2018, up from EUR 83.4 million a year ago. Adjusted EBITDA from January to September 2018 was EUR 137.0 million, compared to EUR 39.2 million in the same period of the previous year. Adjusted net profit for the first nine months of 2018 amounted to EUR 103.6 million and nearly quadrupled year-on-year (EUR 26.9 million).
CORESTATE has launched a new open special AIF for residential and commercial real estate. The "CORESTATE Opportunity Deutschland I" fund is primarily aimed at institutional investors. The investment focus is on properties with a potential of value increase by active asset management. The special AIF has a target volume of EUR 800m and aims at a target return of 7 percent.
*plus 210 service employees in the assets. Their wages are disbursed by CORESTATE but carried by the respective owner.