LOGO LOGO

Back to overview

Show on Home of 04/18/2019

CORESTATE: Closing of the Highstreet VIII fund with an investment volume of EUR 250 million

CORESTATE has fully raised all equity for the club deal fund “Highstreet VIII,” invested in the last three properties and successfully closed the fund. The portfolio with a target volume of EUR 250 million now comprises five retail properties. Following the first two investments in Rostock and Sindelfingen last year, three properties in Garbsen, Nordhorn and Schwenningen have now been acquired.

 

CORESTATE: Closing of the Highstreet VIII fund with an investment volume of EUR 250 million

  • Last three properties purchased and equity raised in full
  • Ninth closing of the successful Highstreet series with a yield of around 6%
  • Investment series includes 150 individual properties, with a total volume of c. EUR 2 billion


Frankfurt, 16 April 2019. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, has fully raised all equity for the club deal fund “Highstreet VIII,” invested in the last three properties and successfully closed the fund. The portfolio with a target volume of EUR 250 million now comprises five retail properties. Following the first two investments in Rostock and Sindelfingen last year, three properties in Garbsen, Nordhorn and Schwenningen have now been acquired.

“With Highstreet VIII, we have closed our ninth high street club deal within 5 years. This demonstrates the significant investor demand for attractive alternatives to the usual concepts focused on big cities. The figures speak for themselves, with a total of 150 retail properties in outstanding locations in German mid-sized cities, with a total investment volume of more than EUR 2 billion, have been successfully acquired across the whole series,” says Tobias Gollnest, Managing Director of Investments at CORESTATE.

The five properties in the Highstreet VIII portfolio have a total area of around 112,000 m². The anchor tenants include well-known companies such as Deichmann, Edeka, Müller, Rewe and New Yorker. The average lease term of this portfolio is more than 8 years, with an occupancy rate of c. 98%.

Lars Schnidrig, CEO of the CORESTATE Group, adds: “With a forecast return of around 6% p.a., the portfolio offers our clients an excellent investment opportunity in the fast-growing medium-sized German cities. At the same time, this underscores our market access in this product group.”

IR Contact
Dr. Kai Gregor Klinger
T: +49 69 3535630107 / M: +49 152 22755400
ir@corestate-capital.com

PR Contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com

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 Prime Standard (SDAX) of the Frankfurt Stock Exchange.

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.

 

05/14/2019

CORESTATE reports promising first quarter 2019 - full-year outlook confirmed

CORESTATE today announced its figures for the first quarter, showing a very convincing start to 2019. Assets under management reached EUR26 billion for the first time; real estate assets under Management rose organically by around 4 percent.

04/26/2019

Annual General Meeting approved distribution of 2.50 Euro per share

The shareholders of CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, approved all agenda items with large majorities at today´s Annual General Meeting (AGM).

04/26/2019

CORESTATE: Annual General Meeting approved distribution of 2.50 Euro per share