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Corestate Capital Holding S.A.: CORESTATE and Universal-Investment Acquire Micro-Apartment Asset in Hamburg, Germany

01/19/2017
DGAP-News: Corestate Capital Holding S.A.: CORESTATE and Universal-Investment Acquire Micro-Apartment Asset in Hamburg, Germany
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Acquisition/Real Estate

19.01.2017 / 08:00
The issuer is solely responsible for the content of this announcement.

CORESTATE and Universal-Investment Acquire Micro-Apartment Asset
in Hamburg, Germany

CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated real estate investment manager and co-investor, acquires a micro-apartment asset with 179 units in Hamburg, Germany. This asset was purchased for the real estate umbrella fund, which was launched on the Luxembourg AIF-Platform of Universal-Investment on behalf of Bayerische Versorgungskammer (BVK). The asset was sold for EUR 64m by Jargonnant Partners S.à r.l.

The high-rise building called “Grindelhochhaus” in the district of Hamburg-Harvestehude features a lettable area of 14.800 sqm and 179 units, twelve offices, eight storage as well as six commercial units.

Thomas Landschreiber, CIO, CORESTATE: “This second prompt acquisition for the jointly launched fund with BVK proves our ability to precisely assess the market and successfully implement the fund’s approach.”

IR Contact CORESTATE
Henryk Deter / Mirko Koch
Phone: +49 611 20585540 / koch@cometis.de

PR Contact CORESTATE
Tom Zeller
Phone: +49 69 264867715 / Cell phone: +49 176 10430063 / tz@feldhoff-cie.de

PR Contact Universal-Investment
Bernd Obergfell
Phone: +49 69 71043575 / bernd.obergfell@universal-investment.com

CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. is a fully integrated real estate investment manager and co-investor seated in Luxembourg that also has offices inter alia in Frankfurt, Zurich, Madrid and Singapore. Since foundation of CORESTATE in 2006 the generated transaction volume amounts to approximately EUR 5.7bn. CORESTATE accompanies its customers along the entire value creation chain of a real estate investment product and covers, in particular, deal sourcing and the development of investment products, structuring and execution of transactions, real estate investment management services and the development and execution of exit strategies. Since October 2016 the group is listed on the Frankfurt Stock Exchange via the Entry Standard.

Universal-Investment
Universal-Investment is the largest independent investment company in German-spoken Europe with fund assets in excess of about EUR290 billion under administration, over 1,000 funds and investment mandates and a workforce of around 650. The focus lies on the efficient and transparent administration of funds, securities, real estate and alternative asset classes. The company is headquartered in Frankfurt/Main and has subsidiaries and holdings in Luxemburg and Austria. As pioneer of the investment industry Universal-Investment is now market leader in the areas of master-KVG and private label funds. Owing to the strong growth since starting the real estate business in 2011, Universal-Investment established itself among the Top 5 companies for institutional open-ended real estate funds in Germany. Members of the management board are Oliver Harth (deputy spokesman), Markus Neubauer, Stefan Rockel, Alexander Tannenbaum and Bernd Vorbeck (spokesman of the management board). (As per 31 December 2016) For more information visit www.universal-investment.com.

Forward-Looking Statements
This 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.

-ENDS-