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
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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.