Corestate Capital Holding S.A.: CORESTATE with exclusive mandate to set up German residential portfolio for institutional fund
DGAP-News: Corestate Capital Holding S.A.: CORESTATE with exclusive mandate to set up German residential portfolio for institutional fund
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Agreement
06.06.2017 / 08:30
The issuer is solely responsible for the content of this announcement.
CORESTATE with exclusive mandate to set up German residential portfolio for institutional fund
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor headquartered in Luxembourg, has received an exclusive mandate from a leading German insurance company to set up a German residential portfolio for a fund. The portfolio is intended to become part of an open-ended special AIF comprising different asset classes. The contractual parties have agreed not to disclose any details about the significant target volume or the specific purchasing criteria.
CORESTATE has been tasked with the acquisition and disposal of properties as well as the ongoing asset management. The investment focus is on residential real estate in German metropolitan regions and their commuter belts. Several properties are currently being assessed with regard to a potential acquisition. IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH, a leading provider of capital management services in the real estate industry, will administer the individual fund on its platform while CAPERA Immobilien Service GmbH, a subsidiary of CORESTATE, will be responsible for the property management.
Sascha Wilhelm, CEO of CORESTATE: “The increasing demand among institutional investors attests to the CORESTATE Group’s high-quality approach. Based on our solid track record, we expect to be able to take on more attractive mandates than originally planned.”
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About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with EUR 16bn* 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 26 offices including in Dusseldorf, Frankfurt, Madrid, Singapore and Zurich. The company employs over 390 people and is listed on the Frankfurt Stock Exchange. Further information is available at www.corestate-capital.com.
*The completion of the Hannover Leasing Group transaction is still subject to the conclusion of ownership control procedures by the Federal Financial Supervisory Authority, BaFin
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.