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Corestate demonstrates shopping centre placement expertise with the sale of the important local shopping centre Warnow Park in Rostock

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DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Disposal
17.12.2021 / 10:19
The issuer is solely responsible for the content of this announcement.

Corestate demonstrates shopping centre placement expertise with the sale of the important local shopping centre Warnow Park in Rostock

  • General lease agreement through 2039 with EDEKA-Nord

  • Handover of the retail complex in top condition

  • Successful Highstreet series: over EUR 2 billion invested in 150 retail properties to date

  • Following top repositioning of the "neustädter" retail park in Giessen, advanced talks with renowned investor

Frankfurt, 17 December 2021 - Corestate, a leading independent investment management company for real estate and related financing solutions, has sold Warnow Park in Rostock from its Highstreet VIII retail fund, thus underscoring its sales expertise in the very demanding shopping centre market. Corestate's successful "Highstreet" investment series has so far included around 150 retail properties in attractive locations in medium-sized German cities with a total investment volume of more than EUR 2 billion. Bechtolsheim Real Estate was entrusted with the property valuation and investor approach of Warnow Park.

"We have once again shown that Corestate great expertise and experience at placing large-volume mixed-use retail properties and handed over a long-established and regionally extremely popular centre in top condition. Our "neustädter" shopping mall in the city centre of Giessen is another example of this. We have repositioned the neustädter with an excellent extension and conversion programme and are already at a very advanced stage of talks with a well-known investor," said Tobias Gollnest, CIO of the DACH region for Corestate.

Warnow Park is part of Rostock's thriving business and science location. It is a highly attractive, fully-let centre with a fresh look and an 18-year master lease with EDEKA Nord, one of the market leaders in European food retail.

The hybrid shopping centre - a retail park with the characteristics of a shopping centre - serves the Rostock district of Lütten Klein/Lichtenhagen. It was extensively modernised in 2010 and has a demand-oriented sector mix of 40 shops with a focus on short-term needs (including DM, McPaper, Apollo Optik, Deichmann, Reiseland, Vodafone, O2) as well as 10 shop spaces in the gastronomy sector (including Burger King). With a net floor space of approx. 40,000 m², the total retail and gastronomy area amounts to approx. 21,400 m², further types of use are office on 1,125 m² and residential with 27 integrated maisonette flats on 2,300 m². In addition, there are parking decks with LED guidance systems for 1,150 vehicles.


Press contact

Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com

Investor Relations contact

Dr Kai Klinger
T: +49 69 3535630-106 / M: +49 162 1036025
ir@corestate-capital.com


About CORESTATE Capital Holding S.A. (CORESTATE)

CORESTATE is an investment manager and co-investor with around € 27 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 850 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. Please visit www.corestate-capital.com for further 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 position, 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 assumes no obligation whatsoever to update these forward-looking statements or to conform them to future events or developments. No inappropriate significance should be attached to forward-looking statements, which apply only to the date of this communication.


17.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Corestate Capital Holding S.A.

4, Rue Jean Monnet

L-2180 Luxembourg

Luxemburg

Phone:

+49 69 3535630-107

Fax:

+49 69 3535630-29

E-mail:

IR@corestate-capital.com

Internet:

www.corestate-capital.com

ISIN:

LU1296758029

WKN:

A141J3

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1259377


 

End of News

DGAP News Service

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