Corestate Capital Holding S.A.

  • WKN: A141J3
  • ISIN: LU1296758029
  • Land: Großherzogtum Luxemburg

Nachricht vom 17.02.2020 | 07:00

CORESTATE continues to grow in Europe: First Micro Living properties acquired in Poland for Bain Capital Credit

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Sustainability
17.02.2020 / 07:00
The issuer is solely responsible for the content of this announcement.

CORESTATE continues to consistently implement its ESG strategy and creates over
12,000 m² of sustainable new housing in Hanau

- 11 climate-friendly residential buildings according to the KfW55 standard

- Total investment just under EUR 60 million

- Sustainably secure return of 4% with the asset class German Residential

- Large German pension fund to benefit from CORESTATE's product access

- CEO Lars Schnidrig: "ESG is no dream of the future."

Frankfurt, February 17, 2020. CORESTATE Capital Holding S.A. (CORESTATE), a leading independent real estate investment manager in Europe, continues to follow its green line and is reacting to the housing shortage in the Rhine-Main region. The company will create urgently needed modern living space in Hanau with 11 buildings and 144 apartments on a total rental area of around 12,200 m². The properties that will be completed by the beginning of 2022, are particularly climate-friendly and meet the KfW55 standard. The total investment volume is just under EUR 60 million. The property is part of the fund assets of the institutional fund CORESTATE Residential Germany Fund II. The sole investor is a large German pension fund. The seller is LEG Hessen-Hanau.

Lars Schnidrig, CEO of the CORESTATE Capital Group: "With the asset class German Residential, we offer our clients sustainably secure investment opportunities at highly attractive returns of around 4 percent. This demonstrates our unique access to products that follow megatrends, such as the increasing demand for significantly more urban living space in Germany. At the same time, we are convinced that today sustainably profitable investing only works if clear, comprehensible ESG aspects are taken into consideration. For us, comprehensive standards for environmental, social and corporate governance are therefore no longer dreams of the future, but are already fully integrated into our investment process."

The project is being developed in the Pionier-Park Hanau in the Triangle Housing area on Aschaffenburger Strasse. In addition to 11 residential buildings, the plan is to build a high-rise garage with 218 parking spaces, 72 additional outdoor parking spaces and 290 bicycle parking spaces. There is also a good transport connection. Frankfurt's central station can be reached in just under half an hour by public transport via the nearby regional train station Wolfgang. The infrastructure includes several schools, daycare centers, a shopping center and restaurants.


Press Contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com

IR Contact
Dr. Kai Gregor Klinger
T: +49 69 3535630107 / M: +49 152 22755400
ir@corestate-capital.com


About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with more than EUR 28 billion 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 42 offices, e.g. in Frankfurt, London, Paris, Madrid, Zurich and Amsterdam. The company employs around 800 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Further information may be found at www.corestate-capital.com.

Forward-looking statements
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 www.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.



17.02.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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