Corestate Capital Holding S.A.: CORESTATE Sells Austria's Largest Student Housing Asset in Vienna
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CORESTATE Sells Austria's Largest Student Housing Asset in Vienna
CORESTATE Capital Holding S.A. ("CORESTATE"), a fully integrated real estate investment manager and co-investor, sells Austria's largest student housing asset to a fund vehicle launched on the fund platform of Universal- Investment on behalf of Bayerische Versorgungskammer as part of the new real estate umbrella funds platform. The institutional fund primarily focusses on micro apartments, especially in student housing properties in European university towns.
The asset is located in Vienna, Austria, in direct vicinity of the Vienna University of Economics and Business campus. The newly built asset features 589 units, a lettable area of 17.718 sqm plus 57 underground parking spots. The annual net rental income is approximately EUR4m. One year after opening, the occupancy rate lies at 98%.
Thomas Landschreiber, CIO of CORESTATE: "With close to 600 apartments on 11 floors, this asset is considered the largest student housing project in Austria. Vienna's dynamic residential market provides the perfect environment for our investment and for our business model in the segment of micro apartments."
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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, London, Madrid and Singapore. Since foundation of CORESTATE in 2006 the transaction volume amounts to approximately EUR 5.6 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.
This publication constitutes neither an offer to sell nor a solicitation of an offer to purchase securities. The securities that are the subject of the listing discussed in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the Securities Act.
In the United Kingdom, this publication is directed only at persons who: (i) are qualified investors within the meaning of the Financial Services and Markets Act 2000 (as amended) and any relevant implementing measures and/or (ii) are outside the United Kingdom or (iii) have professional experience in matters relating to investments and fall within the definition of "investment professionals" contained in article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or are persons falling within article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order, or fall within another exemption to the Order (all such persons referred to in (i) to (iii) above together being referred to as "Relevant Persons"). Any person who is not a Relevant Person must not act or rely on this publication or any of its contents. Any investment or investment activity to which this publication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. This publication contains statements related to future business and financial performance and future events or developments involving CORESTATE that may constitute forward-looking statements. These statements may be identified by words such as "expect", "intend", "look forward to", "believe", "will" or other words of similar meaning. Such statements are based on current expectations and certain assumptions of CORESTATE 's management, of which many are out of our control. These are subjects to a number of risks and uncertainties. Should one or more of this risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of CORESTATE may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. CORESTATE does not intend or assume any obligation to update or revise these forward-looking statements in light of developments which differ from those anticipated.
This publication is not a prospectus. Investors should not purchase or subscribe for any securities referred to in this publication except on the basis of information in the prospectus to be issued by CORESTATE in connection with the offering of such securities.
01.11.2016 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.
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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@example.com 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