Corestate Capital Holding S.A.: CORESTATE sells three trophy assets and significantly reduces debt
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor based in Luxembourg, has sold three trophy assets from its own warehousing portfolio as scheduled. They include the Stadttor in Düsseldorf, the Palais Kronberg near Frankfurt and a trophy asset in The Netherlands. The transfer of all titles, rights and obligations will take place over the coming months. The parties agreed not to disclose the respective purchase prices of the assets.
Dr. Michael Bütter, CEO of the CORESTATE Capital Group: “The successful placement of the assets from our own portfolio was one of our strategic core goals this year. It had the positive side effect to significantly reduce our financial leverage. With the sale of the assets in the current positive market environment, we achieved a key finance goal ahead of time. Therefore we will also generate additional liquidity for further corporate growth. The achievement of this important milestone so soon after the excellent half-year results makes us look forward with continued optimism.”
Dr. Kai Gregor Klinger
Phone: +49 69 3535630107 / Cell phone: +49 152 22755400
Phone: +49 69 3535630-108 / Cell phone: +49 174 4022348
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 600 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.