DGAP-News: CORESTATE further expands European Micro Living portfolio

CORESTATE further expands European Micro Living portfolio

- Acquisition of a property in Bremen for CORESTATE's Serviced Apartments line "JOYN"

- 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.

PR Contact
Jorge Person
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IR Contact
Dr. Kai Gregor Klinger
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About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approx. EUR 26 billion 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 has 42 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs total staff of around 700 and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Further information may be found 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.