CORESTATE has successfully divested a club deal investment in a Euro 432m development project in Vienna. The club deal encompasses Vienna’s most prominent development projects, TRIIIPLE and Danube Flats, with a total investment volume of Euro 432m.
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor based in Luxembourg, has successfully divested a club deal investment in a Euro 432m development project in Vienna.
The club deal encompasses Vienna’s most prominent development projects, TRIIIPLE and Danube Flats, with a total investment volume of Euro 432m. TRIIIPLE is located in the heart of the popular third district near the Danube Canal and the Prater. The skyscraper trio will comprise 847 apartments. At a height of 150 metres, Danube Flats will become the tallest residential tower in the German-speaking countries. The 463-apartment project is located in the immediate vicinity of the UNO City.
Both projects will offer rental apartments and condominiums as well as office and commercial space. Concierge services, child care facilities, gyms and roof top gardens are part of the site concepts. The two projects will also include libraries and cinemas in order to cater to residents’ needs.
Thomas Landschreiber, Chief Investment Officer of CORESTATE: “The exit from the club deal came earlier than expected and resulted in a very attractive return for our investors. These kinds of club deals form the basis of a very successful business model for our family office and UHNWI investors. We can truly say that our club deal investors are among CORESTATE’s most loyal and devoted clients, and we will increase our club deal activities in order to offer even more interesting investment cases.”
About CORESTATE Capital
CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability – trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
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