CORESTATE has yet another fully invested residential property fund, the open-ended Special-AIF CORESTATE Residential Germany Fund II (CRG II). The institutional fund comprises nine new construction projects in metropolitan regions and prospering cities throughout Germany. The majority of the portfolio is characterized by particularly climate-friendly construction in accordance with the KfW55 standard. The total investment volume is over EUR 320 million. The sole investor with equity of EUR 200 million is a large German utility company.
Frankfurt, March 30, 2020. CORESTATE Capital Holding S.A. (CORESTATE), a leading European real estate investment manager, has yet another fully invested residential property fund, the open-ended Special-AIF CORESTATE Residential Germany Fund II (CRG II). The institutional fund comprises nine new construction projects in metropolitan regions and prospering cities throughout Germany. The majority of the portfolio is characterized by particularly climate-friendly construction in accordance with the KfW55 standard. The total investment volume is over EUR 320 million. The sole investor with equity of EUR 200 million is a large German utility company.
Lars Schnidrig, CEO of CORESTATE Capital Group: “We offer institutional customers unique access to secure and profitable investment properties and, with our product offering in the asset class German Residential, we are consistently following the increasing demand for high-quality urban living space in Germany. At the same time, we take their growing ESG requirements for investments into account. Our clients benefit from highly attractive returns of around 4 percent.”
The properties are located in Hamburg, Kassel, Dresden and Kiel, among other cities. The most recent purchase is a residential complex in the Trier district of Weismark-Feyen with 94 units plus underground parking, which will be completed at the beginning of 2023. The total investment volume is approximately
EUR 32.3 million. The rentable area is approx. 7,300 sqm.
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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