Corestate subsidiary Hannover Leasing has acquired the state-of- the-art project development ‘Weitblick 1.7’ in Augsburg’s Innovation Park for a closed-end domestic special AIF aimed predominantly at institutional investors such as savings banks and insurance companies.
Frankfurt/Main, 18 February 2021. Corestate subsidiary Hannover Leasing has acquired the state-of- the-art project development ‘Weitblick 1.7’ in Augsburg’s Innovation Park for a closed-end domestic special AIF aimed predominantly at institutional investors such as savings banks and insurance companies. The core office investment has a total investment volume of around EUR 85 million. Hannover Leasing is providing asset and fund management for the property, which stands out for its innovative technical and sustainable features. It is one of the most modern buildings in the region and is already largely leased to well-known companies in the research and development sector. The takeover will take place after completion in the second quarter of 2021. The seller is a joint venture of Audax GmbH and Leitwerk AG.
“Our excellent regional market access has given our investors access to the top property Weitblick 1.7., which stands out for its high-tech and, above all, sustainability features. As part of Augsburg’s Technology Park and under the management of our experienced team, it will prove to be an attractive and profitable long-term investment for our institutional clients,” said Nils Hübener, CIO of Corestate.
With the ‘Augsburg Innovation Park’ located close to the city centre, one of the largest parks of its kind in Europe is being built on an area of around 70 hectares. The modern campus site will combine living, working and housing in a unique way. The significant Weitblick 1.7 project development is making a major contribution to the park’s future-oriented overall concept. The digitalised building control system, for example, sets standards and promises a high degree of safety and standard. Technical highlights such as palm vein scanners at the building’s entrances pay off, particularly during the corona pandemic. Thanks to the highly sustainable and energy-efficient construction method, the building achieves the best possible sustainability certification with LEED Platinum. The photovoltaic system installed on the roof and the installation of electrochromic glass underscore this holistic concept. Besides an innovative and attractive tenant mix, the project is rounded off by a day care centre and a conference area featuring catering services.
“The Weitblick 1.7 property is characterised not only by excellent quality, a long-term cash flow profile and a stable tenant mix, but also by many innovative technical and sustainable solutions. Together with the reliable and highly experienced project developer Audax, in collaboration with Leitwerk as general planner, we were thus once again able to create an attractive investment for our institutional clients,” added Sebastian Hartrott, Managing Director of Hannover Leasing.
King & Spalding (Frankfurt) and Brand Berger (Munich) acted as advisors to Hannover Leasing, and Arnecke Sibeth Dabelstein (Munich) and Colliers International (Munich) accompanied the seller.
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.
