DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Disposal
Corestate successfully places Sigma Technopark in Augsburg from its open special AIF 'Opportunity Deutschland I'
Frankfurt, 25 January 2021. Corestate Capital Group (Corestate), a leading independent investment manager for real estate in Europe, has successfully sold Sigma Technopark in Augsburg from its open special AIF 'Corestate Opportunity Deutschland I' to the joint venture Titanium, set up by AXA IM Alts and Sirius Real Estate. The total acquisition costs to the buyer amount to approximately EUR 80 million.
Predominantly aimed at institutional investors, Corestate's Opportunity Fund focuses on residential and commercial property. The volume of the fund is approximately EUR 500 million, currently backed by a portfolio of 18 properties. Hansainvest acts as Service-KVG.
Nils Hübener, Chief Investment Officer of Corestate: "Our institutional investors in the Opportunity Deutschland I are primarily pension funds that mainly appreciate a constant basic return on rental income. Based on our well-established active asset management approach, we generate additional income for them from the value appreciation potential of the properties in the portfolio. This constant rental income ensures minimum payout while also offering further development opportunities."
Formerly a large Siemens production site, Sigma Technopark is a well-known, modern business park located at Werner-von-Siemens-Strasse 6 and comprising a total rentable space of some 113,000 m² as well as more than 1,500 parking spaces. With an occupancy rate of around 90 percent, the tenant portfolio includes established blue-chip companies, public institutions, SMEs and start-ups. It is diversified across a wide range of sectors including electronics manufacturing, educational institutions such as universities, logistics and technology. Sigma Technopark is located in one of the top logistics regions in Germany and benefits from excellent transportation links.
NAI Apollo acted as advisor to the seller.
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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.
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 our company and the estimates given here. These factors include those described in published reports. These reports are available on our website corestate-capital.com. The company assumes no liability 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 whose effect only relates to the date of this announcement.
25.01.2021 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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