DGAP-News
CORESTATE acquires top office campus 'VISION ONE' in Stuttgart metropolitan region for closed-end special AIF
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Acquisition CORESTATE acquires top office campus "VISION ONE" in Stuttgart metropolitan region for closed-end special AIF |
- Total investment volume of 160m
- Small group of professional investors
- Core property in a prime location near the airport and exhibition grounds in an economically strong metropolitan region
- DGNB Gold certification
- Hannover Leasing to provide capital and asset management services
Frankfurt, 22 September 2021. Corestate, a leading independent investment manager for real estate and related financing solutions, has acquired the VISION ONE office campus, a forward-looking new construction project in the Stuttgart metropolitan region (Leinfelden-Echterdingen), for a closed-end special AIF. The Corestate subsidiary Hannover Leasing will act as the experienced capital management company and will also provide asset management services for the property. The group of investors comprises a small number of institutional investors from the insurance and pension fund sector, as well as a church supplementary pension fund. The total investment volume is around € 160m. The seller and project developer of the property is a wholly owned subsidiary of Bülow AG.
VISION ONE is a 5-storey complex with a lettable area of around 25,000 m², an underground car park with 446 parking spaces plus 17 outdoor spaces. The new building has been under construction since Q4 2018 and will be completed in Q4 2021.
Laurent Rucker, Head of Real Estate Investment, Hannover Leasing: "VISION ONE offers everything that we, as an investment partner, want for our investors. This includes not only a very good location in the south of Stuttgart, but also DGNB Gold certification, various e-parking spaces and long-term leases of between 5 and 25 years with a highly diversified mix of tenants from sectors such as IT, automotive, leasing and business apartments. Our investors have benefited in particular from an attractive return in the current overall core market."