CORESTATE has launched a new open special AIF for residential and commercial real estate. The “CORESTATE Opportunity Deutschland I” fund is primarily aimed at institutional investors. The investment focus is on properties with a potential of value increase by active asset management. The special AIF has a target volume of Euro 800m and aims at a target return of 7 percent.
November 12, 2018. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, has launched a new open special AIF for residential and commercial real estate. The “CORESTATE Opportunity Deutschland I” fund is primarily aimed at institutional investors. The investment focus is on properties with a potential of value increase by active asset management. The special AIF has a target volume of Euro 800m and aims at a target return of 7 percent.
The fund has already started with an initial portfolio of seven properties with an investment volume of Euro 241m, which was financed by equity capital of Euro 130m already raised. The properties are located in Augsburg, Hanover and Munich, among other places. Further properties are to be purchased, which will provide a constant rental income and which furthermore offer additional development potentials. The current market values of the properties in the seed portfolio, amounting to Euro 262m, show the great value creation potential of the first investments. The aim is to increase further potential, reduce vacancies and generate attractive income through sales.
“With the new fund, we are adding another attractive option to our product range for institutional investors. We are thus specifically expanding our product range in order to meet as many investment and risk needs as possible. With our ever-increasing range of funds, we are generating further growth and at the same time putting our revenue structure on an even broader and more solid footing,” says Dr. Michael Bütter, CEO of CORESTATE Capital Group.
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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