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Overview of 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.

 

CORESTATE launches EUR 300 million residential property fund for institutional investors

  • Continuation of successful residential fund series
  • Minimum target fund volume of EUR 300 million
  • Annual distributions of at least 4%
  • First property acquired in Dresden with an investment volume of EUR 49 million

Frankfurt, 26 February 2019. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, 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.

“The demand for high-quality residential space remains strong. These assets thus offer attractive potential returns to investors. We currently manage more than 53,000 residential units on behalf of our clients and have placed roughly EUR 3.73 billion of investor capital into residential properties since our inception. Our proven long-term track record and the success of the predecessor funds support our decision to launch the next vehicle in this successful series.” says Thomas Landschreiber, Co-Founder and Chief Investment Officer at CORESTATE.

The first project has already been acquired for the fund, a new residential construction in Dresden at the intersection of `An der Elbaue and Flösserstrasse´. The total investment amount in the forward deal is approx. EUR 49 million. The residential complex, with almost 15,000 sq.m. of total GLA, will include 179 high-quality residences, 3 commercial units and 145 underground parking spaces. The project is constructed in an attractive area of Dresden on the north side of the Elbe River with very good local transport, shopping and recreational infrastructure. The project, which is scheduled for completion in the second quarter of 2019, was acquired from Townscape One Development.

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