CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated real estate investment manager and co-investor, is purchasing a 94.9% stake in Hannover Leasing Group. The sellers are essentially the majority shareholders, Landesbank Hessen-Thüringen Girozentrale (Helaba) and Hessisch-Thüringische Sparkassen-Beteiligungsgesellschaft (HTSB). Completion of the transaction is still subject to the conclusion of owner control procedures by BaFin, which is expected to occur in the first half of 2017. It has been agreed that the purchase price shall remain undisclosed. Following the acquisition, the CORESTATE Group’s assets under management will total around Euro 16bn. Helaba will remain as a minority shareholder with a 5.1% stake in Hannover Leasing Group.
Hannover Leasing is one of the leading asset managers and providers of asset-based investments in Germany, and offers closed public AIFs (alternative investment funds) as a licensed capital management company. Since it was founded in 1981, the company has succeeded in raising equity capital of around Euro 9.9bn from private and institutional investors for over 200 closed investments. Hannover Leasing’s investments are focused primarily on real estate opportunities on the domestic and overseas markets, as well as public infrastructure projects. In recent years, Hannover Leasing Group generated predominantly long-term contracted sales from established fund structures. The total investment volume of assets under management comes to around Euro 13.6bn.
Sascha Wilhelm, CEO of CORESTATE: “The acquisition of Hannover Leasing represents an appealing blend of contractually secured, long-term asset management returns and great potential for new business. We are expanding and diversifying our product range and improving our access to new sources of institutional capital. Within the Hannover Leasing Group, we are planning a comprehensive revitalisation programme to enable optimum use of synergies.”
Thomas Groß, Deputy Chief Executive Officer of Helaba: “We are very pleased that CORESTATE will open up a new strategic perspective for Hannover Leasing’s fund business and will continue to lead the company’s existing funds portfolio responsibly.”
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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