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Press Releases of 11/21/2018

CORESTATE's Hannover Leasing launches closed-end property AIF investing in office/hotel/asset

Hannover Leasing has launched a new closed-end property AIF for private investors. The fund invests in the property named Quartier West, an office and hotel complex with 14,963 sqm of space, situated in Darmstadt south of Frankfurt. Investors can take tranches starting from EUR 10,000. The projected payout is 4.1% p.a. Referring to the equity, investors will receive a projected total payout of 146.46% for a ten-year term ending on 30/06/2029.

 

CORESTATE's Hannover Leasing launches closed-end property AIF investing in office/hotel/asset

Pullach, 21 November 2018 - Hannover Leasing, part of the CORESTATE Group, has launched a new closed-end property AIF for private investors. The fund invests in the property named Quartier West, an office and hotel complex with 14,963 sqm of space, situated in Darmstadt south of Frankfurt. Investors can take tranches starting from EUR 10,000. The projected payout is 4.1% p.a. Referring to the equity, investors will receive a projected total payout of 146.46% for a ten-year term ending on 30/06/2029. The total investment volume of the AIF amounts to EUR 63m, of which EUR 32.5m are equity.

The Quartier West is located in the Darmstadt-West district near the main train station. It consists of two building parts: an office with 9,205 sqm rental space, which is already fully leased to four companies from service, technology, business and tax advisory sectors, as well as a hotel property with 5,758 sqm gross floor area. The latter is leased for 20 years, including an extension option, to the Dutch hotel developer and manager Odyssey Hotel Group. The company will operate the hotel comprising 178 rooms in total as well as a restaurant under the Moxy brand (Marriott International).

Technology cluster in the City of Science

Quartier West is part of the 20-ha business and technology park TZ Rhein Main. Close to the property one can find mainly multi-storey office and research buildings. "Darmstadt is also called Wissenschaftsstadt (City of Science). The Technische Universität (University of Technology) and two further universities as well as numerous globally active corporates are boosting demand for both, overnight stays and congresses. It is therefore not surprising that the asset was fully leased before completion," said Marcus Menne, Managing Director of Hannover Leasing.


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

About Hannover Leasing
For more than 35 years, Hannover Leasing has been one of the leading providers of real assets in Germany. So far, around 70,000 private and institutional investors have committed to the firm's funds, investing a total of 10.3 billion euros in equity in the process. Hannover Leasing's total assets under management add up to approximately 9.8 billion euros. With its subsidiary HANNOVER LEASING Investment GmbH as investment management unit (KVG), Hannover Leasing has the ability to launch and manage open-end and closed-end Special AIFs for institutional investors as well as closed-end AIFs for private investors. A focus lies on the asset class real estate (national and international). Headquartered in Pullach near Munich, Hannover Leasing is part of the CORESTATE Capital Group (CORESTATE).
 
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 a member of the Prime Standard of the Frankfurt Stock Exchange (SDAX).Further information is available at www.corestate-capital.com.
 
 
 
This publication represents only non-binding information that does not purport to be complete. Investors are advised to base any investment decision on a thorough review of the entire sales prospectus. The prospectus includes detailed information on the economic, fiscal and legal parameters underlying a given investment, and specifically on its risks. The full-length sales prospectus complete with addenda, where applicable, is available from the issuer and from the provider, each seated at Wolfratshauser Strasse 49, D-82049 Pullach, and can be requested free of charge.
 

 

11/14/2018

CORESTATE continues consistent growth and raises guidance for 2018 - Net debt significantly reduced

CORESTATE continued its profitable growth in the first nine months of the year. Including the recent acquisition of CRM Students, its assets under management now amount to more than EUR 25 billion. CORESTATE generated aggregate revenues of EUR 224.3 million in the first nine months of 2018, up from EUR 83.4 million a year ago. Adjusted EBITDA from January to September 2018 was EUR 137.0 million, compared to EUR 39.2 million in the same period of the previous year. Adjusted net profit for the first nine months of 2018 amounted to EUR 103.6 million and nearly quadrupled year-on-year (EUR 26.9 million).

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.

11/08/2018

CORESTATE closes 'High Street VII' Club Deal at an investment volume of EUR 212m

CORESTATE has closed its "High Street VII" Club Deal at an investment volume of EUR 212m. "High Street VII" encompasses a portfolio of 24 retail assets with 100,000 sq.m. of total GLA across 17 mid-sized German cities. Anchor tenants include dm, Müller, New Yorker and Rewe.