DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate
Corestate with sharpened investor focus - new CEO René Parmantier shapes company into manager of the entire real estate value chain
Frankfurt, February 24, 2021. Corestate Capital Group (Corestate), a leading independent real estate investment manager in Europe, is taking a change of perspective following a structured strategy process across the entire group: In the future, the company will see itself as a manager of this value chain - from project to sale. "We need to understand each stage and be able to manage it at the highest level. To this end, we will selectively combine forces and also strengthen ourselves where it makes sense", explains René Parmantier, CEO of Corestate.
The company has already taken the first consistent steps along this path under Parmantier's leadership. "We have hit an important mark in the private debt segment, which is central to our success, at exactly the right time with the acquisition of Aggregate Financial Services (AFS). With the expertise of AFS, we are significantly strengthening our important debt advisory service line along the entire life cycle of real estate. At the same time, we are securing and expanding AFS's banking business and, with its help, will strengthen our position as market leader for mezzanine financing in German-speaking countries. Last but not least, the additional licenses will open up further sources of income for us; for example, through the securitization and trading of debt instruments", says Parmantier.
The adjustment to the changed market situation is being tackled without delay. Just a few days ago, the sales force was bundled and strengthened. "We expect a lot from this step. We want to take advantage of the upheaval in the market. We see the potential for more and especially larger transactions", explains Parmantier. "I am very confident. The demand we are seeing shows that the path we are taking is the right one."
The consistent focus of the investment portfolio on sustainable, future-proof asset classes is another cornerstone of the strategy. City centers will change. But they will remain a magnet. Corestate wants to help shape and take advantage of this transformation. The CEO continues: "We will offer modern urban living for every phase of life. Among other things, we will provide answers to how retail, daycare centers, medical centers and care facilities are innovatively integrated. This will give investors the opportunity to invest in the major social trends that will have a drastic impact on the way we live and work." These changing conditions create new opportunities for investors; not only in urban districts, residential properties and logistics, but also in office properties or experience-oriented retail spaces that are becoming more flexible. All forward-looking concepts at Corestate are flanked by ESG expertise that is unique in the industry and will in future also be made available to clients - above all institutional investors - as part of advisory services.
Parmantier, who has led the company since December, said: "I have used the time since I took office to press ahead with the further development of the strategy at full speed. In the past, we were too dependent on inorganic growth. That must and will change. We must become more active here, because times of upheaval and crisis, such as those we are currently experiencing, are precisely times when market shares are redistributed. We want to and will be among the winners here. That is why we have massively reduced complexity and will simplify the brand universe under the Corestate umbrella in the coming months. Ultimately, despite all our specialization along the value chain, we are one company. This should shape our actions even more in the future."
Parmantier adds, "Corestate, with its extensive product portfolio and broad geographic footprint in Europe, has enormous potential, which we now intend to leverage by unleashing dormant forces in the upcoming upswing. In doing so, we will return to the company's strongly entrepreneurial DNA. That won't happen overnight, but we have the right team on board to do it. For my part, I joined Corestate to stay and take the company forward on a sustainable basis. 2021 will therefore be a year of new beginnings for Corestate in many respects!"
Investor Relations contact
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with assets under management of well over 28 billion euros. As a fully integrated real estate platform, CORESTATE offers its clients sound expertise in the areas of investment and fund management as well as real estate management services from a single source. The company is internationally active as a respected business partner for institutional investors and wealthy private investors. The company is headquartered in Luxembourg and has 42 additional offices in Frankfurt, London, Paris, Madrid, Zurich and Amsterdam, among others. CORESTATE has around 800 employees and is listed on the Frankfurt Stock Exchange (SDAX). Further information can be found at www.corestate-capital.com.
24.02.2021 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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