13.12.2016
Corestate Capital Holding S.A. LU1296758029
DGAP-News: Corestate Capital Holding S.A.: Sistema Capital Partners/CORESTATE JV Secures EUR105 Million Retail Deals in Flensburg and Lübeck to take German High Street Acquisitions to EUR350 Million for Sistema-Led Club
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Joint Venture
Corestate Capital Holding S.A.: Sistema Capital Partners/CORESTATE JV
Secures EUR105 Million Retail Deals in Flensburg and Lübeck to take German
High Street Acquisitions to EUR350 Million for Sistema-Led Club
13.12.2016 / 08:30
The issuer is solely responsible for the content of this announcement.
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Sistema Capital Partners/CORESTATE JV Secures EUR105 Million Retail Deals
in Flensburg and Lübeck to take German High Street Acquisitions to EUR350
Million for Sistema-Led Club
The international private equity real estate investment joint venture of
Sistema Capital Partners (SCP) and CORESTATE Capital Holding S.A.
(CORESTATE) has acquired two high street properties for a total of EUR 105
m. The properties are located in Flensburg and Lübeck, two affluent and
economically dynamic cities on Germany's Baltic coast. The investments will
be 70% debt-financed and lift the JV's total volume of retail real estate
deals in Germany on behalf of a Sistema-led club of investors to EUR 350m.
The two properties, acquired from different vendors, are located in prime
locations of the mid-sized cities. The property in Lübeck is located in the
city centre close to the main train station, while the property in
Flensburg is based in the pedestrianised precincts. Occupying their
combined total gross lettable area (GLA) of 37,000 sqm are tenants that
include Saturn, TK Maxx, Mc Fit and Holmes Place.
Marjorie Brabet-Friel, SCP's Chief Executive Officer, said: "SCP and
CORESTATE were early to spot the opportunities in High Street retail in
mid-sized German cities and the latest investments are larger and more
prime in character than those previously transacted by our joint venture.
These properties are located in the dominant retail destinations of their
local markets and offer scope for active asset management, fitting squarely
with our value-add strategy of targeting highly liquid assets in
economically strong locations."
SCP was established by Russia's listed diversified holding company Sistema
JSFC in 2015 to invest Sistema's own capital alongside other like-minded
institutional and high net-worth investors from around the world through a
club deal structure that allows hands-on control of the assets. CORESTATE
is a fully integrated real estate investment manager based in Luxembourg
and is co-investing in and co-managing the German assets acquired by the JV
platform.
Sascha Wilhelm, Chief Executive Officer of CORESTATE, said: "Retail in mid-
sized German cities often serves a large catchment area as a magnet for an
entire region and properties in pedestrian zones in these centres are
particularly attractive investments. Our in-depth local knowledge of the
German market, combined with Sistema's expertise, have proved to be a
successful combination in identifying and securing this type of investment
opportunities."
Press Contact Sistema Capital Partners
Steve Hays
Bellier Financial
Phone: +31 20 419 0901 / [email protected]
IR Contact of CORESTATE Capital Holding S.A.
Henryk Deter / Mirko Koch
Phone: +49 611 20585540 / [email protected]
Press Contact of CORESTATE Capital Holding S.A.
Tom Zeller, Managing Partner
Phone: +49 69 264867715 / Cell phone: +49 176 10430063 / [email protected]
About Sistema Capital Partners
Sistema Capital Partners is a dedicated private equity real estate platform
owned by the Sistema Group, the largest publicly traded diversified holding
company in Russia and the CIS with around $19 billion in total assets under
management. www.sistemacapitalpartners.com
About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. is a fully integrated real estate investment
manager and co-investor seated in Luxembourg that also has offices inter
alia in Frankfurt, Zurich, Madrid and Singapore. Since foundation of
CORESTATE in 2006 the transaction volume amounts to approximately EUR 5.7
billion. CORESTATE accompanies its customers along the entire value
creation chain of a real estate investment product and covers, in
particular, deal sourcing and the development of investment products,
structuring and execution of transactions, real estate investment
management services and the development and execution of exit strategies.
Since October 2016 the group is listed on the Frankfurt Stock Exchange via
the Entry Standard.
Forward-Looking Statements
This 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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13.12.2016 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.
35 avenue Monterey
L-2163 Luxembourg
Grand Duchy of Luxembourg
Phone: +352 (26) 637222
Fax: +352 (26) 637245
E-mail: [email protected]
Internet: www.corestate-capital.ch
ISIN: LU1296758029
WKN: A141J3
Listed: Regulated Unofficial Market in Berlin, Tradegate Exchange;
Open Market in Frankfurt (Entry Standard)
End of News DGAP News Service
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528869 13.12.2016
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