LOGO LOGO

Back to overview

Press Releases of 11/12/2018

CORESTATE launches new opportunity fund with a target volume of EUR 800m

CORESTATE has launched a new open special AIF for residential and commercial real estate. The "CORESTATE Opportunity Deutschland I" fund is primarily aimed at institutional investors. The investment focus is on properties with a potential of value increase by active asset management. The special AIF has a target volume of EUR 800m and aims at a target return of 7 percent.

 


CORESTATE launches new opportunity fund with a target volume of EUR 800m

- Open special AIF for residential and commercial real estate

- Target volume of EUR 800m with a target return of 7%

- Start-up portfolio with an investment volume of EUR 241m available

- EUR 130m in equity already raised

November 12, 2018. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, has launched a new open special AIF for residential and commercial real estate. The "CORESTATE Opportunity Deutschland I" fund is primarily aimed at institutional investors. The investment focus is on properties with a potential of value increase by active asset management. The special AIF has a target volume of EUR 800m and aims at a target return of 7 percent.

The fund has already started with an initial portfolio of seven properties with an investment volume of EUR 241m, which was financed by equity capital of EUR 130m already raised. The properties are located in Augsburg, Hanover and Munich, among other places. Further properties are to be purchased, which will provide a constant rental income and which furthermore offer additional development potentials. The current market values of the properties in the seed portfolio, amounting to EUR 262m, show the great value creation potential of the first investments. The aim is to increase further potential, reduce vacancies and generate attractive income through sales.

"With the new fund, we are adding another attractive option to our product range for institutional investors. We are thus specifically expanding our product range in order to meet as many investment and risk needs as possible. With our ever-increasing range of funds, we are generating further growth and at the same time putting our revenue structure on an even broader and more solid footing," says Dr. Michael Bütter, CEO of CORESTATE Capital Group.

PR contact
Andre Zahlten
T: +49 69 3535630-108 / M: +49 174 4022348
andre.zahlten@corestate-capital.com

IR contact
Dr. Kai Gregor Klinger
T: +49 69 3535630107 / M: +49 152 22755400
ir@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 regulated market (SDAX) of the Frankfurt Stock Exchange. Further information is available at www.corestate-capital.com.

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.
 

 

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.

02/14/2019

Corestate Capital Holding S.A.: Vorläufige Geschäftszahlen 2018: CORESTATE übertrifft angehobene Prognose

02/05/2019

CORESTATE acquires office property for club deal clients in Munich

CORESTATE has acquired an office complex in Munich. The property, representing a total investment amount of approx. EUR 66 million, is to be repositioned using a “Manage-to-Core” strategy. CORESTATE will offer the property to investors as a club deal. The deal signing has already been completed, with closing scheduled for the end of March 2019.