Corestate Capital Holding S.A.: CORESTATE invests in a serviced apartment building in Düsseldorf, Germany
DGAP-News: Corestate Capital Holding S.A.: CORESTATE invests in a serviced apartment building in Düsseldorf, Germany
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Miscellaneous
26.04.2018 / 08:30
The issuer is solely responsible for the content of this announcement.
CORESTATE invests in a serviced apartment building in Düsseldorf, Germany
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor based in Luxembourg, is investing in a serviced apartment building in Düsseldorf, Germany. Upon completion of the current conversion works on site, the asset will comprise 70 modern and self-contained serviced apartment units.
The plot currently houses two office buildings. The redevelopment consists of their conversion into a modern and high-quality serviced apartment building, by adding a central structure. The property is located in the center of Düsseldorf, benefitting from its proximity to the city’s main high street Königsallee, the central station as well as from its vicinity to the banking district. The asset enjoys access to various shopping amenities and is well-connected to public transportation via the central station and several underground stations. Düsseldorf’s trade fair, airport, the Medienhafen district and the city’s lively old town with its various leisure facilities and cultural events are easily accessible.
Thomas Landschreiber, Co-founder and CIO of CORESTATE: “Due to its strong economy and high attractiveness and living quality, Düsseldorf has developed a large and consistent demand for serviced apartments. This project is a unique opportunity for investors to benefit from the city’s fast-growing demand for serviced living. At the same time, CORESTATE will extend its existing management platform with an innovative and under-developed asset class.”
UPARTMENTS Real Estate GmbH, part of the CORESTATE Group, will operate the residence.
Dr. Kai Gregor Klinger
Phone: +49 69 3535630107 / Cell phone: +49 152 22755400
Phone: +49 69 264867715 / Cell phone: +49 176 10430063
About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately EUR 22bn 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 41 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 560 people and is listed in the regulated market (SDAX) of the Frankfurt Stock Exchange.
Further information is available at www.corestate-capital.com.
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.