Corestate Capital Holding S.A.

  • WKN: A141J3
  • ISIN: LU1296758029
  • Land: Großherzogtum Luxemburg

Nachricht vom 17.09.2020 | 07:00

Corestate subsidiary STAM Europe acquires office complex in the Paris region for a core/core+ fund

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Real Estate
17.09.2020 / 07:00
The issuer is solely responsible for the content of this announcement.

Corestate subsidiary STAM Europe acquires office complex in the Paris region for a core/core+ fund

  • Ninth asset on behalf of the Madeleine fund
  • Demonstrated access to attractive commercial assets in France
  • Established location, secure rental flow, potential for long-term value creation

Paris, 17 September 2020. STAM Europe, a subsidiary of real estate investment manager Corestate Capital Holding S.A., has acquired an office property complex of approximately 13,000 sqm in the city of Pantin, in the immediate proximity of the Paris ring road. This transaction constitutes the ninth asset of the Madeleine fund, a portfolio of core/core+ office properties located in Paris and its first rim.

Nils Hübener, CIO Corestate Capital Group: "In difficult markets investors are searching in particular for investments that deliver sustainable and stable returns. Especially offices in established locations and with long, secure rental contracts and flexible space solutions are currently in demand from our clients. With this acquisition STAM demonstrates its excellent access to the very attractive office market in the Paris region."

The complex consists of two independent office buildings of approximately 5,000 sqm and 8,000 sqm, delivered in 2002 and 2003, respectively five and eight storeys high with two basement levels for parking. Both buildings are fully leased to the DVNI (a French public entity) and the Legrand Group. The two assets fit perfectly with the Madeleine fund's strategy, with an established location, a secure rental flow and a potential for long-term value creation.

The building occupied by DVNI will provide a secure income stream, while the building currently occupied by the Legrand Group will be fully renovated by 2025, to offer a new building adapted to the future expectations of users and benefiting from the latest environmental standards. The objects are located at the foot of metro line 5 and within the main office market of Pantin, which has undergone profound changes over the last ten years, combined with reasonable rent levels for the Parisian market.


Press contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com

Investor relations contact
Mario Groß
T: +49 69 3535630-106 / M: +49 162 1036025
ir@corestate-capital.com


About CORESTATE Capital Holding S.A.

CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with more than Euro 28 billion in assets under management. As a fully integrated real estate platform, CORESTATE offers its customers combined expertise in the areas of investment and fund management as well as property management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 42 additional offices in Frankfurt, London, Paris, Madrid, Zurich and Amsterdam, among others. The company employs around 800 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Please visit www.corestate-capital.com for further information.

Forward-looking 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 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.

 



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The issuer is solely responsible for the content of this announcement.

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