CORESTATE sets up open-ended residential property special AIF with at least EUR 300m equity

(PresseBox) ( Zug, )
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor headquartered in Luxembourg, is currently setting up an open-ended special AIF with a focus on residential property in Germany. An initial EUR 70m equity for the seed portfolio has already been secured; the first investor is a German pension fund. The target volume of the CORESTATE Residential Germany Fund II is at least EUR 300m. Hannover Leasing Investment GmbH is mandated as the investment management company.

The CORESTATE Residential Fund II focuses on newly built residential property in metropolitan areas and prospering cities throughout Germany and will aim at an annual payout rate of at least 4%.

Thomas Landschreiber, CIO and Co-Founder, CORESTATE: “The increase in demand from institutional investors since CORESTATE’s listing in autumn 2016 is remarkable. Due to our strong network and asset sourcing capabilities we have top quality assets worth several billion EUR in our pipeline, which secures us an excellent advantage over our competitors. Residential real estate represents one of our strongest asset classes.”

CAPERA Immobilien Service GmbH, a CORESTATE subsidiary, will be responsible for the property management.

Forward-Looking Statements

This press release may contain 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 discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
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