Hannover Leasing acquired the office space of the “Johannis-Quartier” city quarter development in Chemnitz for a closed special AIF geared towards institutional investors such as German savings banks and insurers. The attractive core office investment has a total investment volume of approximately € 70m. Hannover Leasing is also responsible for asset management for the property, which is almost exclusively leased to regional energy provider eins energy in sachsen GmbH & Co. KG with a fixed term of 25 years. The handover is scheduled to be made following project completion, which is planned for Q4 2021. The seller is a project company of FAY Projects GmbH, based in Mannheim.
Frankfurt, 22 January 2021. At the turn of the year, Hannover Leasing, a subsidiary of CORESTATE Capital Holding S.A. (Corestate) acquired the office space of the “Johannis-Quartier” city quarter development in Chemnitz for a closed special AIF geared towards institutional investors such as German savings banks and insurers. The attractive core office investment has a total investment volume of approximately € 70m. Hannover Leasing is also responsible for asset management for the property, which is almost exclusively leased to regional energy provider eins energy in sachsen GmbH & Co. KG with a fixed term of 25 years. The handover is scheduled to be made following project completion, which is planned for Q4 2021. The seller is a project company of FAY Projects GmbH, based in Mannheim.
Nils Hübener, CIO of Corestate: “Our outstanding access to the regional market meant that we were able to offer a tailor-made investment solution to our institutional clients, featuring an exclusive property in an attractive asset class. This marks a systematic continuation of our focus on city quarter products and the further intensification of our investment activities in this core segment. We currently have a range of exciting projects in the pipeline that will allow us to actively shape the way people live and work in major German cities.”
The Johannis-Quartier project is a significant development in Chemnitz and comprises office space and a hotel. The office space acquired by Hannover Leasing features six floors above ground and two below ground level, offering a total rental area of approximately 14,200 m² and parking spaces for roughly 300 cars in an adjoining parking lot with above-ground and underground parking. Two small retail areas with a total rental area of approximately 300 m² on the ground floor of the office space are to be rented out this year. The property is situated in a prime location in Chemnitz city centre, a stone’s throw from the city’s pedestrian zone with excellent links to road infrastructure and public transport. The building is also set to receive DGNB Gold sustainability certification.
Sebastian Hartrott, Managing Director of Hannover Leasing: “This is a top-quality property with a long-term cash flow profile and an outstanding tenant. The Johannis-Quartier is an attractive and sustainable investment for our institutional clients, once again underlining our expertise and first-rate market access.”
Pinsent Masons advised Hannover Leasing on the deal, with Bornheim und Partner working on behalf of FAY.
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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