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Corestate Capital Holding S.A.: Hannover Leasing buys ‘Central Post’ office building in Rotterdam for institutional property fund

DGAP-News: Corestate Capital Holding S.A.: Hannover Leasing buys ‘Central Post’ office building in Rotterdam for institutional property fund
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Miscellaneous

17.08.2018 / 07:30
The issuer is solely responsible for the content of this announcement.

Hannover Leasing buys “Central Post” office building in Rotterdam for institutional property fund

Pullach, 17 August 2018 – Hannover Leasing, part of the CORESTATE Capital Group, has bought the “Central Post” office building in Rotterdam in a Club Deal on behalf of Finnish mutual pension insurance company Ilmarinen and a German institutional investor. The seller is Icon Real Estate.

“Central Post” is one of the most famous office buildings in the heart of Rotterdam, located directly next to the main train station. Partly listed, the building from the 1950s has 38,500 sq.m. of GLA and was extensively refurbished and modernised in 2009. “Central Post” offers large floor plans of up to 3,000 sq.m. as well as a height between floors of up to six metres. The office is fully leased with anchor tenants including Basell Service Company, De Persgroep and ProRail. Some 225 parking spaces are part of the property.

“The building has a consistent rental history and today is leased long-term to a number of companies from different industries. This secures an excellent diversification of cash flow,” says Michael Ruhl, Managing Director of Hannover Leasing.

Hannover Leasing ranks among the leading providers of tangible assets in Germany. The company’s biggest shareholder is the CORESTATE Capital Group which holds 94.9 percent. Another 5.1 percent of the shares are held by Landesbank Hessen Thüringen (HELABA). Headquartered in Pullach near Munich, the group designs structured financing as well as closed-end funds and other investment vehicles for private and institutional investors. Its investment focus lies on real estate inside and outside Germany and aviation. So far, more than 69,700 private and institutional investors have committed to the funds of Hannover Leasing, investing a total of 10.1 billion Euros in equity in the process. Hannover Leasing’s total assets under management adds up to approximately 12.6 billion Euros.

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.

Tom Zeller
Managing Partner
Feldhoff & Cie. GmbH
T: +49 69 264867715 / M: +49 176 10430063