CORESTATE is currently setting up an open-ended special AIF with a focus on residential property in Germany. An initial EUR 70m equity for the seed portfolio has already been secured; the first investor is a German pension fund. The target volume of the CORESTATE Residential Germany Fund II is at least EUR 300m.
CORESTATE closed today the acquisition of HFS Helvetic Financial Services AG, as announced on 1 July 2017. In addition to the payment of the cash component of the purchase price, CORESTATE's share capital was increased by the issuance of 7,365,256 new shares against contribution in kind from authorized capital as part of the transaction.
Assets under Management increase to EUR 20bn, purchase price for HFS in the mid three-digit million range, guidance for financial year 2017 raised, adjustments within the Executive Board and Senior Advisory Circle
Investments in Student Housing assets in thriving university towns.
Investments in high quality serviced apartment assets in metropolitan areas.
Investments in diversified High Street Retail Portfolios in medium sized German cities.