Corestate Capital Holding S.A.: CORESTATE Acquires Former Headquarter of Perfume Brand 4711 in Cologne, Germany
DGAP-News: Corestate Capital Holding S.A.: CORESTATE Acquires Former Headquarter of Perfume Brand 4711 in Cologne, Germany
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Miscellaneous
20.10.2017 / 08:55
The issuer is solely responsible for the content of this announcement.
CORESTATE Acquires Former Headquarter of Perfume Brand 4711 in Cologne, Germany
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor, has acquired one of Colognes landmarks, former headquarter of perfume brand 4711, to realize an apartment hotel project with a projected market value after realisation of approximately EUR 60m. The re-development asset, located in the very dynamic district of Ehrenfeld, benefits from direct access to shopping amenities, various restaurants and bars, a gym, a park and enjoys very good access to public transportation.
Thomas Landschreiber, Chief Investment Officer of CORESTATE, comments: “This property is part of Barthonia Forum, a 70,000 sqm mixed-use residential, commercial and retail area. Our property pipeline of Student Housing and any form of Micro Living is well filled and we are able to establish a very strong operational platform with long and stable revenues. CORESTATE’s longstanding experience and its extraordinary track record speak volumes.”
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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 open market of the Frankfurt Stock Exchange. Further information is available at www.corestate-capital.com.
*at year end 2017
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.