Corestate Capital Holding S.A.: CORESTATE and Universal-Investment acquire micro-living asset ‘WOODIE’ in Hamburg, Germany
DGAP-News: Corestate Capital Holding S.A.: CORESTATE and Universal-Investment acquire micro-living asset ‘WOODIE’ in Hamburg, Germany
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Miscellaneous
29.01.2018 / 08:30
The issuer is solely responsible for the content of this announcement.
CORESTATE and Universal-Investment acquire micro-living asset “WOODIE” in Hamburg, Germany
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor based in Luxembourg, acquired the micro-living asset “WOODIE”, which includes 371 student housing 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 student residence was completed in autumn 2017 and comprises a total rental area of 7.700 sq.m. – spread over 371 apartments, two shared utility rooms and two commercial units.
The asset, a seven-storey hybrid building constructed of reinforced concrete and wood, is located in Hamburg Wilhelmsburg, a new urban quarter on the Elbinsel island south of the city centre. The 20-sq.m. apartments are completely made of wood. Due to the flexible floor plan, the building can easily be used for alternative purposes.
Thomas Landschreiber, CIO of CORESTATE: “WOODIE is already the 12th asset we have acquired for our BVK fund. Taking over long-term management of the attractive properties in the vehicle strengthens our business model and raises our profile as a manager to investors.”
UPARTMENTS Real Estate GmbH, a CORESTATE subsidiary, will be responsible for the property management.
Dr. Kai Gregor Klinger
T: +49 69 3535630-107 / M: +49 152 22755400
Phone: +49 69 264867715 / Cell phone: +49 176 10430063
Press Contact for Universal-Investment
Phone: + 49 69 71043 575 / email@example.com
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 530 people and is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange.
Further information is available at www.corestate-capital.com.
With fund assets in excess of about EUR 355 billion under administration, thereof EUR 295 billion in own vehicles, over 1,100 funds and investment mandates and a workforce of around 650, Universal-Investment is the largest independent investment company in German-spoken Europe. The focus lies on the efficient and transparent administration of funds, securities, real estate and alternative asset classes. The 1968 founded 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 as largest companies for institutional open-ended real estate funds in Germany. According to the 2017 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment ranks in second place. (As per 31 December 2017)
Please visit www.universal-investment.com for more information
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.