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DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate
Corestate sells Limes Park in Sulzbach, near Frankfurt, to Quantum
Frankfurt, 27 May 2021. Real estate investment manager Corestate has successfully sold 'Limes Park' in Sulzbach (Taunus) near Frankfurt am Main. It has been bought by Quantum Immobilien AG, which has now acquired another light industrial property for an investment vehicle it manages. The parties have agreed not to disclose the purchase price.
Limes Park at Otto-Volger-Straße 1-9 is an ensemble of six buildings, which were completed in the years 1991 and 1992. The diversified plot comprises a total of approximately 22,300 m² of rental space. Approximately 13,000 m² of this total area is used for offices, and the remaining 9,300 m² is available to tenants from various industries as individually tailored storage, workshop and office space. What's unique is that the storage and production space on the ground floor can also be flexibly combined with the office space in the upper floors. The high occupancy rate emphasizes the appeal of this usage concept, which is only found in a few places in the Frankfurt region.
Prior to the purchase by Quantum, Corestate held the property since 2018 in the open-ended special AIF 'Opportunity Deutschland I', which focuses on residential and commercial real estate and is predominantly aimed at institutional investors. The fund volume, which currently boasts a portfolio of approximately 13 properties, stands at around € 400m. Hansainvest is acting as the Service KVG.
Nils Hübener, Chief Investment Officer at Corestate: "Thanks to our many years of experience in active asset management, we were able to take the Limes Park in the sought-after location near Frankfurt and turn yet another property into a very successful investment for our institutional clients. The Opportunity Deutschland fund I is primarily invested in pension funds, for whom we offer exactly what they are looking for - namely a constant basic return from rental income."
Arndt Buchwald, managing director at Quantum Immobilien Kapitalverwaltungsgesellschaft: "The purchase of Limes Park complements our light industrial portfolio perfectly. The property is located in the middle of the Rhine-Main region, which we classify as a future-proof region with a sustained high demand for light industrial real estate. The location also boasts excellent transport links, a crisis-resistant mix of tenants from the fields of research and technology, an attractive return and potential for future value growth, with the result that Limes Park meets all of our investment goals."
Limes Park is located in the Gewerbegebiet West commercial park in the south of Sulzbach. The Main-Taunus-Zentrum (MTZ) is one of the most popular and largest shopping centres in the Rhine-Main region, offering an extensive range of shopping and dining options just a few hundred metres away. Sulzbach (Taunus) borders Frankfurt am Main. It is 15 km away from Frankfurt city centre, 18 km from Frankfurt Airport and 35 km away from the state capital of Wiesbaden.
apollo real estate GmbH & Co. KG was the real estate agent involved in the transaction. Quantum obtained legal advice from Linklaters LLP, and technical advice from WITTE Projektmanagement GmbH. ES EnviroSustain GmbH carried out the buyer's ESG due diligence for the property.
Investor relations contact
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. Please visit www.corestate-capital.com for further information.
Since it was founded in 1999, Quantum Immobilien AG has stood for promising project development, attractive institutional investment products and the holistic management of real estate investments. It focuses its activities on metropolitan regions in Germany. The project development division realises both its own projects and joint ventures within the framework of entrepreneurial investments. To date, properties with an area of over 1,350,000 m2 have been built. Other projects measuring over 250,000 m² are currently under construction or in development. The transaction volume amounts to approximately € 4.9bn.
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.
27.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Corestate Capital Holding S.A.
4, Rue Jean Monnet
+49 69 3535630-107
+49 69 3535630-29
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
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