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Friday 22 January, 2021

Corestate Capital Holding S.A.

Corestate subsidiary Hannover Leasing acquires the new 'Johannis-Quartier' office building in Chemnitz for special AIF

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate/Funds
Corestate subsidiary Hannover Leasing acquires the new 'Johannis-Quartier' office building in Chemnitz for special AIF

22.01.2021 / 07:00
The issuer is solely responsible for the content of this announcement.


Corestate subsidiary Hannover Leasing acquires the new "Johannis-Quartier" office building in Chemnitz for special AIF

  • Total investment volume of € 70m
  • Special AIF for German savings banks and insurers
  • Corestate intensifies investment activities in city quarters
  • High-quality core newbuild with sustainable cash flow profile
  • Long-term rental contract spanning 25 years with top tenant "eins energie in Sachsen"

Frankfurt, 22 January 2021. At the turn of the year, Hannover Leasing, a subsidiary of CORESTATE Capital Holding S.A. (Corestate) acquired the office space of the "Johannis-Quartier" city quarter development in Chemnitz for a closed special AIF geared towards institutional investors such as German savings banks and insurers. The attractive core office investment has a total investment volume of approximately € 70m. Hannover Leasing is also responsible for asset management for the property, which is almost exclusively leased to regional energy provider eins energy in sachsen GmbH & Co. KG with a fixed term of 25 years. The handover is scheduled to be made following project completion, which is planned for Q4 2021. The seller is a project company of FAY Projects GmbH, based in Mannheim.

Nils Hübener, CIO of Corestate: "Our outstanding access to the regional market meant that we were able to offer a tailor-made investment solution to our institutional clients, featuring an exclusive property in an attractive asset class. This marks a systematic continuation of our focus on city quarter products and the further intensification of our investment activities in this core segment. We currently have a range of exciting projects in the pipeline that will allow us to actively shape the way people live and work in major German cities."

The Johannis-Quartier project is a significant development in Chemnitz and comprises office space and a hotel. The office space acquired by Hannover Leasing features six floors above ground and two below ground level, offering a total rental area of approximately 14,200 m² and parking spaces for roughly 300 cars in an adjoining parking lot with above-ground and underground parking. Two small retail areas with a total rental area of approximately 300 m² on the ground floor of the office space are to be rented out this year. The property is situated in a prime location in Chemnitz city centre, a stone's throw from the city's pedestrian zone with excellent links to road infrastructure and public transport. The building is also set to receive DGNB Gold sustainability certification.

Sebastian Hartrott, Managing Director of Hannover Leasing: "This is a top-quality property with a long-term cash flow profile and an outstanding tenant. The Johannis-Quartier is an attractive and sustainable investment for our institutional clients, once again underlining our expertise and first-rate market access."

Pinsent Masons advised Hannover Leasing on the deal, with Bornheim und Partner working on behalf of FAY.


Press contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
[email protected]

Investor Relations contact
Mario Groß
T: +49 69 3535630-106 / M: +49 162 1036025
[email protected]


About CORESTATE Capital Holding S.A.

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.

Future-oriented statements

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.

 



22.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Corestate Capital Holding S.A.
4, Rue Jean Monnet
L-2180 Luxembourg
Luxemburg
Phone: +49 69 3535630-107
Fax: +49 69 3535630-29
E-mail: [email protected]
Internet: www.corestate-capital.com
ISIN: LU1296758029
WKN: A141J3
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1162453

 
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1162453 22.01.2021 

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