DGAP-News: CORESTATE further expands European Micro Living portfolio
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Expansion/Real Estate
CORESTATE further expands European Micro Living portfolio
- Acquisition of a property in Bremen for CORESTATE's Serviced Apartments line "JOYN"
Passende neue Barrier Reverse Convertibles
- CORESTATE on its way to becoming Europe's leading Micro Living platform
- JOYN now reaching a total portfolio volume of around EUR 600 million
Frankfurt, 28 June 2019. CORESTATE Capital Holding S.A. (CORESTATE), a leading independent real estate investment management company in Europe, has - by acquiring a property in Bremen - taken a further step towards building Europe's leading Micro Living platform. The future property will be part of CORESTATE's "JOYN" line of serviced apartments, which will reach a total portfolio volume of around EUR 600 million.
Lars Schnidrig, CEO of CORESTATE: "We are currently establishing the leading European platform for Micro Living properties because our customers are increasingly demanding investment opportunities in this asset class. We were one of the first to discover this segment and are now able to exploit this time advantage and offer a steadily increasing number of highly profitable assets."
Thomas Landschreiber, Co-Founder and Chief Investment Officer of CORESTATE, added: "In Bremen, as in many other cities, the demand for small, high-quality equipped apartments is constantly increasing. And this property has impressed us right from the start with its convincing micro and macro location."
The property and the future serviced apartment house are located in the centre of the hanseatic city, just a few minutes' walk from the town hall and railway station and will be resold to an institutional investor after completion. It comprises around 740 m², the rentable area will be 4,900 m². 86 apartments on six floors and 17 parking spaces are planned; construction will start in a few days, completion is scheduled for the fall of 2021.
28.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Corestate Capital Holding S.A.|
|4, Rue Jean Monnet|
|Phone:||+49 69 3535630-107|
|Fax:||+49 69 3535630-29|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||832531|
|End of News||DGAP News Service|
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