HANNOVER LEASING has fully placed an attractive office property in Düsseldorf for a public AIF designed for foundations. As part of this successful cooperation, a new and long-term agreement to cooperate was concluded with Baden-Württembergische Equity GmbH (BWEquity), a 100% subsidiary of Landesbank Baden-Württemberg and the exclusive placement partner of this foundation fund.
Frankfurt, October 28, 2019. HANNOVER LEASING, a subsidiary of the European real estate investment manager CORESTATE Capital Holding S.A. (CORESTATE), has fully placed an attractive office property in Düsseldorf for a public AIF designed for foundations. As part of this successful cooperation, a new and long-term agreement to cooperate was concluded with Baden-Württembergische Equity GmbH (BWEquity), a 100% subsidiary of Landesbank Baden-Württemberg and the exclusive placement partner of this foundation fund.
Lars Schnidrig, CEO of CORESTATE Capital Group: “BWEquity has been an important partner for us for quite some time. We rely on their experience as a competence center for alternative tangible asset investments for banks and savings banks and are convinced that we will also have excellent access to new clients in the future via BWEquity’s sales network.”
Hans-Henning Brand, Managing Director of BW Equity, adds: “CORESTATE has excellent access to attractive investment properties and a particular strength of Hannover Leasing lies in its focus on private investor investments. As part of our cooperation agreement, we can now make full use of both.”
The property in Düsseldorf’s prime location is fully let for 15 years to Unfallkasse Nordrhein-Westfalen (UK NRW), which will move into its new headquarters there with around 500 employees. The building, designed by the Düsseldorf architectural firm RKW Architektur, has total rental space of around 12,100 m² and is located on Moskauer Strasse at the International Trade Center in the Oberbilk district. It will be sustainable, barrier-free and state of the art and is to receive DGNB Gold certification. The total investment volume of the foundation fund amounts to around EUR 60 million. Intensive work is already underway on finding follow-up properties for the UK NRW.
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.
About Hannover Leasing
For more than 35 years, Hannover Leasing has been one of the leading providers of tangible assets in Germany. A total of around 70,000 private and institutional investors have invested around EUR 10.3 billion in the group’s funds. Hannover Leasing currently manages assets amounting to EUR 9.8 billion. With its subsidiary HANNOVER LEASING Investment GmbH as a capital management company (KVG), Hannover Leasing has the prerequisites to design and manage open and closed special AIFs for institutional investors as well as closed public AIFs for private investors. One focus is on the asset class real estate (national / international). Hannover Leasing is a CORESTATE Capital Group (CORESTATE) company. Further information may be found at www.hannover-leasing.de.
About BW Equity
Baden-Württembergische Equity GmbH (BWEquity) is a wholly owned subsidiary of Landesbank Baden-Württemberg and, as a recognized quality leader in the field of alternative tangible asset investments, offers a comprehensive range of services. It accompanies its sales partners, Baden-Württembergische Bank and more than 100 savings banks throughout Germany throughout the entire product cycle: from the certified selection process and analytical model calculations, sales training and training offers to after-sale and fund controlling of the investments. By 2019, a total of over EUR 2.5 billion in equity had been brokered. BWEquity has 16 employees and is headquartered in Stuttgart. Further information may be found at www.bw-equity.de.
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