Corestate Bank, a subsidiary of the Corestate Group, has arranged three complex financing transactions worth a total of around EUR 130 million over the past few days. The properties are managed by Corestate. Since Corestate offers its clients all services for both the real estate debt and the real estate equity side from a single source, the company can implement financings particularly effectively.
Frankfurt, 3 December 2021 – Corestate Bank, a subsidiary of the Corestate Group, has arranged three complex financing transactions worth a total of around EUR 130 million over the past few days. The properties are managed by Corestate. Since Corestate offers its clients all services for both the real estate debt and the real estate equity side from a single source, the company can implement financings particularly effectively.
“Our Debt Finance team does business with all major real estate financiers in Germany. As our business model is fully focused on our customers, we can provide them with ideal financing solutions at any time and without detours. Of course, we also make our banking network available to external real estate investors,” commented Johannes Märklin, Member of the Management Board of Corestate.
EUR 71 million bank loan for VISION ONE in Leinfelden-Echterdingen
In the Stuttgart metropolitan region (Leinfelden-Echterdingen), MünchenerHyp is financing the purchase of the “VISION ONE” office campus with a long-term loan of EUR 71 million. The bank is acting as sole underwriter. The financing is for a closed-end special AIF of the Corestate subsidiary Hannover Leasing which, in addition to its function as capital management company, also assumes asset management for a small group of institutional investors. The newly constructed high-quality building complex consists of a total of five floors with a leasable area of around 25,000 m². The building stands out due to its broad tenant structure, DGNB Gold certification and its close proximity to Stuttgart Airport and the Stuttgart Trade Fair Centre.
Successful negotiation and implementation of EUR 31 million bank financing for JOYN in Munich
On behalf of German and international investors, Corestate Bank successfully negotiated and contractually executed a three-year real estate financing in the amount of approximately EUR 31 million with a German commercial bank. The financing is secured by a serviced apartment building in Munich that is operated by the Corestate Group’s operating company under the Micro Living brand JOYN.
“With its tailored solution approach, structuring expertise and deep understanding of the real estate market, Corestate Bank was able to optimally represent the investors’ interests while also taking into account the bank’s needs, thus ensuring the best possible results for all parties,” said Matthias Sandfort, Group Head of Debt Finance at Corestate.
10-year financing of EUR 27 billion for a major German institutional investor
On behalf of a major German institutional investor, Corestate Bank concluded a 10-year real estate financing of EUR 27 million with a Landesbank and successfully accompanied the purchase price payment for the first construction phase. The financing is secured by a property in Cologne and consists of micro-apartments and apartments managed by operating companies of the Corestate Group.
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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