CORESTATE continues to follow its green line and is reacting to the housing shortage in the Rhine-Main region. The company will create urgently needed modern living space in Hanau with 11 buildings and 144 apartments on a total rental area of around 12,200 m². The properties that will be completed by the beginning of 2022, are particularly climate-friendly and meet the KfW55 standard. The total investment volume is just under EUR 60 million. The property is part of the fund assets of the institutional fund CORESTATE Residential Germany Fund II. The sole investor is a large German pension fund. The seller is LEG Hessen-Hanau.
Frankfurt, February 17, 2020. CORESTATE Capital Holding S.A. (CORESTATE), a leading independent real estate investment manager in Europe, continues to follow its green line and is reacting to the housing shortage in the Rhine-Main region. The company will create urgently needed modern living space in Hanau with 11 buildings and 144 apartments on a total rental area of around 12,200 m². The properties that will be completed by the beginning of 2022, are particularly climate-friendly and meet the KfW55 standard. The total investment volume is just under EUR 60 million. The property is part of the fund assets of the institutional fund CORESTATE Residential Germany Fund II. The sole investor is a large German pension fund. The seller is LEG Hessen-Hanau.
Lars Schnidrig, CEO of the CORESTATE Capital Group: “With the asset class German Residential, we offer our clients sustainably secure investment opportunities at highly attractive returns of around 4 percent. This demonstrates our unique access to products that follow megatrends, such as the increasing demand for significantly more urban living space in Germany. At the same time, we are convinced that today sustainably profitable investing only works if clear, comprehensible ESG aspects are taken into consideration. For us, comprehensive standards for environmental, social and corporate governance are therefore no longer dreams of the future, but are already fully integrated into our investment process.”
The project is being developed in the Pionier-Park Hanau in the Triangle Housing area on Aschaffenburger Strasse. In addition to 11 residential buildings, the plan is to build a high-rise garage with 218 parking spaces, 72 additional outdoor parking spaces and 290 bicycle parking spaces. There is also a good transport connection. Frankfurt’s central station can be reached in just under half an hour by public transport via the nearby regional train station Wolfgang. The infrastructure includes several schools, daycare centers, a shopping center and restaurants.
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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