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DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Acquisition
Corestate subsidiary STAM acquires portfolio of new urban logistics for Highlands II joint venture in the Paris region
Paris, 8 October 2021. CORESTATE subsidiary STAM Europe, a French logistics specialist with 1 million sqm under management, is continuing its expansion into urban logistics with the acquisition of three light industrial parks in the Paris region from the developer Pierreval. This acquisition was executed on behalf of the Highlands II joint venture, which is the second investment program of STAM and a North American institutional investor in the logistics and light industrial sectors in France.
Alexandra Vaquin, Head of Acquisitions at STAM Europe, comments: "Our ability to acquire spec developments allows us to position ourselves on quality assets that meet new environmental requirements and the needs of users. Given the location of these sites and the scarcity of new programs, we are very confident in our ability to lease the assets."
The three sites, totalling more than 15,000 sqm, are located approximately 30-45 km south of Paris. The assets will target a BREEAM Good certification and will offer 200 to 500 sqm units for rent during 2022.
The targeted assets for Highlands II should offer the potential to add value, either through rental reversion or through the implementation of CAPEX programs. The strategy targets existing and leased assets as well as development projects with leasing risk in attractive areas. STAM Europe acts as Investment and Asset Manager on behalf of the joint venture.
Investor Relations contact
Dr Kai Klinger
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 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 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.
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.
08.10.2021 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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