DGAP-News Corestate subsidiary Hannover Leasing acquires the new 'Johannis-Quartier' office building in Chemnitz for special AIF
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Funds
Corestate subsidiary Hannover Leasing acquires the new "Johannis-Quartier" office building in Chemnitz for special AIF
- Total investment volume of € 70m
- Special AIF for German savings banks and insurers
- Corestate intensifies investment activities in city quarters
- High-quality core newbuild with sustainable cash flow profile
- Long-term rental contract spanning 25 years with top tenant "eins energie in Sachsen"
Frankfurt, 22 January 2021. At the turn of the year, Hannover Leasing, a subsidiary of CORESTATE Capital Holding S.A. (Corestate) acquired the office space of the "Johannis-Quartier" city quarter development in Chemnitz for a closed special AIF geared towards institutional investors such as German savings banks and insurers. The attractive core office investment has a total investment volume of approximately € 70m. Hannover Leasing is also responsible for asset management for the property, which is almost exclusively leased to regional energy provider eins energy in sachsen GmbH & Co. KG with a fixed term of 25 years. The handover is scheduled to be made following project completion, which is planned for Q4 2021. The seller is a project company of FAY Projects GmbH, based in Mannheim.
Nils Hübener, CIO of Corestate: "Our outstanding access to the regional market meant that we were able to offer a tailor-made investment solution to our institutional clients, featuring an exclusive property in an attractive asset class. This marks a systematic continuation of our focus on city quarter products and the further intensification of our investment activities in this core segment. We currently have a range of exciting projects in the pipeline that will allow us to actively shape the way people live and work in major German cities."
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