CORESTATE has closed its “High Street VII” Club Deal at an investment volume of Euro 212m. “High Street VII” encompasses a portfolio of 24 retail assets with 100,000 sq.m. of total GLA across 17 mid-sized German cities. Anchor tenants include dm, Müller, New Yorker and Rewe.
8 November 2018. CORESTATE Capital Holding S.A. (CORESTATE), a leading European investment manager for real estate, has closed its “High Street VII” Club Deal at an investment volume of Euro 212m. “High Street VII” encompasses a portfolio of 24 retail assets with 100,000 sq.m. of total GLA across 17 mid-sized German cities. Anchor tenants include dm, Müller, New Yorker and Rewe.
With the acquisition of a property in the pedestrian zone of Cloppenburg in northern Germany as the final transaction for “High Street VII”, CORESTATE has fully placed the equity raised for the investment programme for the seventh time. The investment programme focuses on retail assets in prominent locations of German mid-sized cities.
The successor programme “High Street VIII” was launched in April 2018 and is already invested in assets in Rostock and Sindelfingen. The target investment volume will be c. Euro 250m. Overall, retail assets with a value of over Euro 2bn have been placed in the “High Street” programme line.
Thomas Landschreiber, CIO and co-founder of CORESTATE: “Our ‘High Street’ programme line offers an attractive alternative to the prevalent investment vehicles focused on A-cities. Our investors are still convinced of the success of retail assets in pedestrian zones of German mid-sized and prosperous cities. We will continue to pursue this approach while additionally diversifying our product range in the retail sector with further investment programmes.”
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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