CORESTATE has partially opened its first micro living asset in Poland. As an initial step, 217 beds in Gdansk are now available and the first students have already moved in. This marks another important step in the company ́s strategy to enlarge its student housing footprint in Europe.

  • Initially 217 beds handed over to be operated by a JV with Bain Capital Credit
  • First students have already moved in

Frankfurt, October 2, 2020. CORESTATE Capital Group (Corestate), a leading independent real estate investment manager in Europe, has partially opened its first micro living asset in Poland. As an initial step, 217 beds in Gdansk are now available and the first students have already moved in. This marks another important step in the company ́s strategy to enlarge its student housing footprint in Europe.

Lars Schnidrig, CEO Corestate: “Our micro living approach focusses on student apartments in Western and Continental Europe – and Gdansk with its reputable universities as well as a high number of foreign students is considered iconic for our strategy of enlarging our portfolio with sound judgement. Thus, we prepare ourselves, also as a result of the COVID-19-pandemic, for a rising number of students and their increasing demand for contemporary accommodation.”

The asset in Gdansk, located between the historical old town and various university campuses, is planned to be finished by end of this year with 409 beds across a total net lettable area of more than 6,000sqm and is then owned by the first JV of Bain Capital Credit and Corestate. In addition to the student rooms, a lobby and lounge area are available, as well as a kiosk, several community spaces including a shared kitchen, a washing lounge, a gym and a TV and gaming room.

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.

Forward-looking statements
This press release may contain forward-looking statements. Forward-looking statements are all statements that are not historical facts and events. This applies wherever there is information about future financial profitability, plans and expectations with regard to the company, growth and profitability as well as economic conditions to which the company is exposed. Statements using the words “should”, “may”, “will”, “believes”, “expects”, “assumes”, “assumes”, “estimates”, “plans”, “believes”, “to the knowledge”, “estimates” or similar expressions indicate such forward-looking statements. Forward-looking statements are based on current estimates and assumptions made by management to the best of their knowledge. Such forward-looking statements are based on assumptions and factors and are subject to uncertainties, the non-occurrence or occurrence of which may cause the actual circumstances, including the Company’s net assets, financial position and results of operations, to differ materially from or be more negative than those expressly or implicitly assumed or described in these statements. Certain forward-looking statements, while appropriate at this time, may prove to be incorrect. Various known and unknown risks, uncertainties and other factors could cause the forward-looking statements, actual results, financial position, development or performance of the Company to be materially different from those expressed or implied by such statements. Therefore, the Company and its management cannot be held responsible for the actual occurrence of the forecasted developments. It should be noted that the Company assumes no obligation to update such forward-looking statements or to conform them to future events or developments.

print