CORESTATE has placed a large nationwide mixed real estate portfolio on behalf of a client. The successful sale was made possible by CORESTATE’s high-performance, full-service real estate platform, which spans from consulting to transaction management. The transaction comprises 27 properties located all over Germany with total rentable space of approx. 121,000 m² and includes the asset classes micro living, retail park and high street retail. The portfolio has an investment volume in the mid three-digit range and offers annual rental income of around EUR 17.4 million.
Frankfurt, December 2, 2019. CORESTATE Capital Holding S.A. (CORESTATE), a leading independent investment manager for real estate in Europe, has placed a large nationwide mixed real estate portfolio on behalf of a client. The successful sale was made possible by CORESTATE’s high-performance, full-service real estate platform, which spans from consulting to transaction management. The transaction comprises 27 properties located all over Germany with total rentable space of approx. 121,000 m² and includes the asset classes micro living, retail park and high street retail. The portfolio has an investment volume in the mid three-digit range and offers annual rental income of around EUR 17.4 million.
Lars Schnidrig, CEO of CORESTATE: “The successful completion of this demanding transaction reflects the fact that our real estate platform enables us to offer our institutional clients sustainably profitable solutions across the entire real estate value chain. This applies to asset allocation, management and an exit strategy. In particular, we were able to place two micro living properties in top locations. We are continuously expanding our leading European market position in this growing asset class. Thanks to our high level of asset management expertise, we are providing the new institutional investor with an all-round healthy and optimally positioned portfolio.”
The mixed portfolio structured by CORESTATE comprises 24 high street commercial properties in top locations in B-cities across Germany, a specialty shopping center in northern Germany with long-term leases and renowned anchor tenants such as EDEKA, toom, Expert, dm and Deichmann, as well as two larger micro living properties in Berlin and Frankfurt. Important features of the portfolio for the investor included a total occupancy rate of around 94% with long-term leases and very good return prospects in the mid-single-digit range over a 10-year period.
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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