“CORESTATE works customer-oriented at all times and understand our needs as an institutional investor. The cooperation is always trustful and goal-oriented.”
CORESTATE has acquired five project developments comprising a total of over 1,700 newly built micro-apartments in Germany. The five properties were acquired by way of a forward deal for the real estate umbrella fund set up for Bayerische Versorgungskammer (BVK) on the Luxembourg-based AIF platform of Universal-Investment. The combined asset value after completion will be EUR 670m. The projects' seller and developer is CG Gruppe AG.
CORESTATE announces the full repayment of an HFS acquisition loan (Compartment Thalos IX from Thalos Investment Platform S.A.) with a total nominal amount of EUR 150m. The loan formed part of the acquisition financing for Helvetic Financial Services AG (HFS) in July 2017. After the successful integration, the acquisition is now also on the balance sheet essentially completed.
Since the beginning of December, Stefan Scherrer has been responsible for running and expanding the CORESTATE Shared Services platform. One of his main tasks is the integration of CORESTATE's different business units into a shared platform in order to realise planned synergies and strengthen the economic clout of each unit.
*at year end 2017