DGAP-News
Corestate acquires Cologne's prestigious Laurenz Carré project from Gerchgroup AG
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Acquisition Corestate acquires Cologne's prestigious Laurenz Carré project from Gerchgroup AG |
- Blueprint for Corestate's Real Estate Debt & Equity business model
- Corestate underscores its expertise for city districts and further expands the segment after "The Q"
- Showcase project with city-shaping character for Cologne
- Working and living in one: mixed-use concept stands for urbanity of the future
Frankfurt, 21 December 2021 - Corestate, a leading independent investment and asset management company for real estate and related financing solutions, has acquired the inner-city quarter development Laurenz Carré in a prime Cologne city location directly next to the cathedral for an institutional client from the Düsseldorf-based project developer Gerchgroup AG. The company is thus consistently expanding its new product focus on urban districts and intensifying its investment activities in this core segment. Gerchgroup will continue to plan, realise and hand over the entire project on a turnkey basis. The transaction was concluded in the form of a forward deal and comprises two sub-projects for the mixed-use property with completion at the end of 2023 and the end of 2024 respectively. Corestate was involved in the financing of the project at an early stage via HFS and has accompanied the process ever since. In addition, Corestate Bank advised Gerchgroup on the most recent refinancing.
Corestate is seeing increasing demand from its clients for innovative mixed-use concepts and neighbourhood solutions for residential, commercial and infrastructure and is looking to further expand its market position in the urban neighbourhood segment with Laurenz Carré. In 2020, for example, the company had acquired the main section of the trophy quarter development "The Q" in Nuremberg. The seller was also Gerchgroup AG. The transaction is also an excellent example of Corestate's holistic business model of offering the full range of products and services on the real estate equity and real estate debt side. The company accompanies projects throughout their entire life cycle and can, for example, provide loans for preparation and purchase through its subsidiary HFS, advise on all aspects of refinancing with Corestate Bank and act as investor as well as investment, asset, fund and property manager.