After initiating a strategic realignment at the start of the year, Corestate Capital Group (“Corestate”), a leading independent real estate investment manager in Europe, is now continuing to reposition itself by moving into shared office space with Corestate Bank. The company will relocate its Frankfurt headquarters from its present offices near the city’s exhibition grounds to the prestigious Marienturm in the heart of Frankfurt’s banking district at the end of 2022, thereby achieving another milestone in the long-term transformation of the Corestate Group.
Frankfurt, 10 September 2021. After initiating a strategic realignment at the start of the year, Corestate Capital Group (“Corestate”), a leading independent real estate investment manager in Europe, is now continuing to reposition itself by moving into shared office space with Corestate Bank. The company will relocate its Frankfurt headquarters from its present offices near the city’s exhibition grounds to the prestigious Marienturm in the heart of Frankfurt’s banking district at the end of 2022, thereby achieving another milestone in the long-term transformation of the Corestate Group.
With the move, Corestate is creating a common work location for its entire Frankfurt-area staff, which are currently housed in different offices. René Parmantier, CEO of Corestate: “The fact that all Frankfurt-based employees will soon be able to work together under one roof in the fantastic Marienturm is a particularly important step for us in the further development of Corestate. The strategy adopted in 2021 to manage the entire value chain for real estate equity and real estate debt will then also be reflected in terms of space. Through the 10-year contract concluded at the new location, the members of the Management Board intend to send a clear and lasting signal for the company’s future viability, continuity and long-term success. I believe firmly in the potential of the Group and our amazing team. Bringing our capacities together in a single location will prove advantageous for our customers, and is something Corestate itself will benefit from in particular in the years to come.”
Through its selection of office location, Corestate also intends to boost its appeal as an employer in the long term. The company will also be able to provide its employees at the Marienturm with state-of-the-art workstations and important corporate benefits, such as a childcare centre, canteen, fitness studio and bar-style café. The lease covering four connected floors with modern room concepts and a gross lettable area of around 5,400 m² was concluded for 10 years, with an option to extend.
The new headquarters combines a top location, flexibility for additional staff growth and the highest environmental and sustainability standards. Parmantier: “We attach great importance to sustainability in our real estate transactions, which is why we have also paid special attention to this aspect in our new Frankfurt headquarters.”
The Marienturm was completed in 2019 and is part of the Marieninsel development project in Frankfurt’s banking district at Taunusanlage 9–10, near the Deutsche Bank Twin Towers. At a height of 155 m, it boasts some 47,906 m² of rental space on 38 floors, with 267 car parking spaces and 400 bicycle parking spaces, as well as ideal connections to public transport, the central rail station, the airport and motorways. Originally developed by Pecan Development, the building is now owned by a fund affiliated with Aermont Capital.
Corestate received legal advice on the lease from BBlaw, along with interior design advice from XQUADRAT
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 830 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 and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 11 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London.
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