01.08.2018
Corestate Capital Holding S.A. LU1296758029
DGAP-News: Corestate Capital Holding S.A.: CORESTATE acquires student residence project in Sevilla, Spain
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Miscellaneous
Corestate Capital Holding S.A.: CORESTATE acquires student residence project
in Sevilla, Spain
01.08.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
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CORESTATE acquires student residence project in Sevilla, Spain
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment
manager and co-investor based in Luxemburg, acquired a 413 unit student
housing project in Sevilla in southern Spain for private investors as part
of a Club Deal. Construction of the project started in June 2018 after
CORESTATE had won a EUR 19.8m loan on a 5-year basis from a debt fund
advised by LaSalle Investment Management for the investment.
The student residence in Sevilla will encompass over 11,500 sq.m. of GLA
after its planned opening in the first quarter of 2020. A few minutes' walk
from the city centre, it is located on the EUSA Campus which is part of the
Universidad de Sevilla. The university is the largest in Spain with over
60,000 students. Overall, the Andalusian capital is home to more than 75,000
students, which represents 16% of Spain's total student population. The
student residence will be operated by YOUNIQ, which is part of the CORESTATE
Group.
As a market leader in the European micro living sector, CORESTATEs
integrated business model covers the entire range of real estate services
for their investors: from acquisition and sale, financing and property
development all the way to smooth professional operations - without taking
any project development risk.
Thomas Landschreiber, Co-founder and Chief Investment Officer, CORESTATE:
"Spain is an important target market for the strategy. The country has seen
rising student numbers, particularly international ones. This is boosted,
among other things, by low tuition fees in comparison to other European
countries as well as the rising amount of English-language courses offered
by the universities. Entering the Spanish market is another step forward in
the process of internationalizing our group efforts."
The loan has a maturity of five years. Matthias Heimann, Executive Director
Debt Finance, CORESTATE: "Our heightened engagement in the Spanish student
housing market helped us secure attractive financing conditions for the
project." CORESTATE's first project in Madrid with 260 student apartments is
close to completion and scheduled to open in September. Two further student
housing projects are planned in Valencia and Bilbao.
IR Contact
Dr. Kai Gregor Klinger
Phone: +49 69 3535630107 / Cell phone: +49 152 22755400
[email protected]
PR Contact
Andre Zahlten
Phone: +49 69 3535630-108 / Cell phone: +49 174 4022348
[email protected]
About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and
co-investor with approximately EUR 22bn in assets under management. As a
fully integrated real estate platform, CORESTATE offers its clients combined
expertise in the areas of investment and fund management as well as real
estate management services. The company operates as a respected business
partner of institutional clients and wealthy private investors
internationally. CORESTATE is headquartered in Luxembourg and has41 offices
including in Frankfurt, London, Madrid, Singapore and Zurich. The company
employs over 560 people and is listed in the regulated market (SDAX) of the
Frankfurt Stock Exchange.
Further information is available at www.corestate-capital.com.
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.
-ENDS-
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01.08.2018 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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
End of News DGAP News Service
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709761 01.08.2018
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