CORESTATE has successfully sold Sigma Technopark in Augsburg from its open special AIF ‘Corestate Opportunity Deutschland I’ to the joint venture Titanium, set up by AXA IM Alts and Sirius Real Estate. The total acquisition costs to the buyer amount to approximately EUR 80 million.
Frankfurt, 25 January 2021. Corestate Capital Group (Corestate), a leading independent investment manager for real estate in Europe, has successfully sold Sigma Technopark in Augsburg from its open special AIF ‘Corestate Opportunity Deutschland I’ to the joint venture Titanium, set up by AXA IM Alts and Sirius Real Estate. The total acquisition costs to the buyer amount to approximately EUR 80 million. Predominantly aimed at institutional investors, Corestate’s Opportunity Fund focuses on residential and commercial property. The volume of the fund is approximately EUR 500 million, currently backed by a portfolio of 18 properties. Hansainvest acts as Service-KVG.
Nils Hübener, Chief Investment Officer of Corestate: “Our institutional investors in the Opportunity Deutschland I are primarily pension funds that mainly appreciate a constant basic return on rental income. Based on our well-established active asset management approach, we generate additional income for them from the value appreciation potential of the properties in the portfolio. This constant rental income ensures minimum payout while also offering further development opportunities.”
Formerly a large Siemens production site, Sigma Technopark is a well-known, modern business park located at Werner-von-Siemens-Strasse 6 and comprising a total rentable space of some 113,000 m² as well as more than 1,500 parking spaces. With an occupancy rate of around 90 percent, the tenant portfolio includes established blue-chip companies, public institutions, SMEs and start-ups. It is diversified across a wide range of sectors including electronics manufacturing, educational institutions such as universities, logistics and technology. Sigma Technopark is located in one of the top logistics regions in Germany and benefits from excellent transportation links.
NAI Apollo acted as advisor to 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.
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