Corestate acquires the prestigious project ‘Fünf-Häuser-Quartier’ in Dreieich for the Stadtquartier fund
DGAP-News: Corestate Capital Holding SA / Keyword(s): Real Estate/Acquisition
Corestate acquires the prestigious project ‘Fünf-Häuser-Quartier’ in Dreieich for the Stadtquartier fund
02.02.2022 / 07:00
The issuer is solely responsible for the content of this announcement.
Corestate acquires the prestigious “Fünf-Häuser-Quartier” project in Dreieich (near Frankfurt) for the Stadtquartier fund
- Currently the most important urban development project in Dreieich
- About. Purchase price of 43 million euros and approximately 8,200 m² of total rental space
- Corestate Group responsible for fund, investment and asset management
Frankfurt, February 2, 2022. Corestate has acquired the prestigious “Fünf-Häuser-Quartier” project known as “Neue Mitte” in the center of the Dreieich district of Sprendlingen (near Frankfurt) for its special open-ended AIF “Stadtquartiere I” for approximately 43 million euros. euros. The institutional fund, which was launched at the start of 2021, invests in urban development-relevant real estate in the centers of medium-sized and large German cities that improve the quality of the respective location. The fund’s target volume is approximately EUR 500 million. Corestate is responsible for investments and asset management, with its subsidiary Hannover Leasing acting as internal KVG. The seller and developer of the project is Schoofs Immobilien GmbH Frankfurt.
The area meets the KfW Efficiency House 55 standard and comprises approximately 8,200m2 of residential and commercial letting space with a good mix of 53 apartments, local supply areas, offices, practices and restaurants. Sparkasse Langen-Seligenstadt, Rossmann and denn’s Biomarkt have already been confirmed as anchor tenants, the catering spaces are about to be let and the demand for the apartments is high. Delivery is scheduled for spring 2022.
Blank Real Estate facilitated the transaction. Legal advice on the buyer’s side was provided by LPA-GGV.
Press contacts
Jorge Person
Phone. : +49 69 3535630-136 / M: +49 162 2632369
[email protected]
Investor Relations Contact
Thomas Fritsch
Phone. : +49 69 3535630-106 / M: +49 162 1036025
[email protected]
About CORESTATE Capital Holding SA (CORESTATE)
CORESTATE is an investment manager and co-investor with approx. 27 billion in assets under management. The company sees itself as a manager across the entire real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, including the possibility of investing in large-scale societal trends such as urbanization, demographic changes or sustainability – trends which will continue to have a decisive influence on the living and working environment in the long term. A constant focus on asset classes that will succeed over the long term is a cornerstone of the company’s strategy. At CORESTATE, all concepts are backed by ESG expertise that is unique in the industry. With some 850 experts, CORESTATE offers its clients and investors a full range of services and advice from a single source, from project financing and property 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. Please visit www.corestate-capital.com for more information.
Forward-looking statements
This press release may contain certain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the Company and the estimates given here. These factors include those described in published reports. These reports are available on our website www.corestate-capital.com. The Company undertakes no obligation to update these forward-looking statements or to conform them to future events or developments. No inappropriate meaning should be attached to the forward-looking statements, which speak only as of the date of this communication.
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