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Show on Home of 02/21/2019

CORESTATE expands real estate portfolio for Bayerische Versorgungskammer to EUR 800 million

CORESTATE arranged the purchase last year of seven additional properties, with a total value of some EUR 100 million, for a high-street property fund of Bayerische Versorgungskammer (BVK). With these new investments, the assets of the portfolio, managed by CORESTATE on behalf of BVK, has now reached approx. EUR 800 million, with a total of 97 highstreet retail property holdings throughout Germany. In the current year as well as 2020, the number of property investments is to be further increased as suitable buying opportunities come available.

 

CORESTATE expands real estate portfolio for Bayerische Versorgungskammer to EUR 800 million

  • Purchases of seven German high-street retail properties for approx. EUR 100 million in 2018
  • Managed commercial real estate portfolio grows to 97 properties
  • Further acquisitions planned for 2019

Frankfurt, 20 February 2019 – CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, arranged the purchase last year of seven additional properties, with a total value of some EUR 100 million, for a high-street property fund of Bayerische Versorgungskammer (BVK). With these new investments, the assets of the portfolio, managed by CORESTATE on behalf of BVK, has now reached approx. EUR 800 million, with a total of 97 highstreet retail property holdings throughout Germany. In the current year as well as 2020, the number of property investments is to be further increased as suitable buying opportunities come available.

“We are delighted that we were able to secure these seven top-notch properties, each with very good return prospects, for BVK over the past year. We are fully confident that we will continue to be able to identify and acquire further attractive properties for BVK in the long term,” says Thomas Landschreiber, co-founder and Chief Investment Officer of CORESTATE.

The acquired properties are located, among other cities, in Hameln, Moers, Schwanewede and Bremen. The properties have a combined leasable area of 50,000 sq.m. and an average lease term of eight years. They are all in premium locations of pedestrian zones of the respective cities, with tenants including such major German and international retails as C&A, Combi, dm, Müller and H&M. The acquisitions are fully in line with the fund’s investment strategy, which centres on commercial properties in prime locations within medium-sized cities throughout Germany.

With assets under management of more than EUR 77 billion, BVK is among the largest institutional investors in Germany. CORESTATE has been serving as an investment manager and asset manager to the company since 2016. In addition to the commercial property portfolio, CORESTATE also manages a micro-living portfolio on behalf of BVK, comprised of student apartment buildings with a current value of some EUR 720 million and an agreed target size of EUR 1.2 billion.

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.

 

03/08/2019

CORESTATE signs sustainability standards of the United Nations

CORESTATE has signed the United Nations Principles for Responsible Investment (UNPRI). The commitment to these sustainability standards is a key component of CORESTATE’s integral Environmental, Social, Governance (ESG) strategy, under which ESG criteria are factored into all of the company’s business processes and practices, thereby embodying these best practices of corporate governance.

02/26/2019

CORESTATE launches EUR 300 million residential property fund for institutional investors

CORESTATE is launching its new open-ended Special-AIF “CORESTATE Residential Germany III fund” (CRG III). Following the full placement of CRG II in January 2019, CORESTATE now continues the successful series. The fund’s investment focus will be on new-built residential properties in major metropolitan areas and thriving cities throughout Germany. The institutional fund, with a target volume of EUR 300 million, seeks to generate ongoing distributions of at least 4% p.a.

02/14/2019

Preliminary figures for 2018: CORESTATE exceeds raised forecast

CORESTATE according to its preliminary figures for fiscal year 2018, partly significantly exceeded the forecast it raised in November. Accordingly, aggregated revenues increased from EUR 195 million to EUR 292 million. Adjusted EBITDA rose to EUR 184 million compared to EUR 123 million in the previous year, while adjusted net profit increased to EUR 135 million (previous year: EUR 93 million). Assets under management (AuM) rose by more than 15% in excess of EUR 25 billion. At the same time, the core business, Real Estate AuMs, grew organically by more than 9%. CORESTATE has thus very successfully completed its first full fiscal year following the major acquisitions Hannover Leasing, HFS and ATOS.