Corestate Capital Holding S.A.: CORESTATE finances BVK high-street portfolio with EUR 343m loan from LBBW
CORESTATE finances BVK high-street portfolio with EUR 343m loan from LBBW CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor based in Luxembourg, has received a loan facility with a volume of EUR 343m from Stuttgart-based landesbank LBBW (Landesbank Baden-Württemberg). The facility will be used to finance the seed portfolio of the high-street fund managed on behalf of Germany's largest pension fund BVK (Bayerische Versorgungskammer). Since mid-2017, CORESTATE holds the asset-management mandate for the EUR 687m portfolio, which was launched on Universal-Investment's platform. The portfolio encompasses 90 assets across Germany, which CORESTATE originally acquired and held in several portfolios in its club deal programme.
The debt facility has an attractive fixed interest rate and a maturity of 10 years. "We did not only manage to achieve an attractive interest rate in the current volatile credit market environment but additionally took the interest rate risk out of the equation for the BVK portfolio," commented Lars Schnidrig, CFO of CORESTATE, on the transaction.
Overall, CORESTATE manages a portfolio of 200 high-street assets with a total investment volume of over EUR 2bn in German mid-sized cities.
IR Contact Dr. Kai Gregor Klinger Phone: +49 69 3535630-107 / Cell phone: +49 152 22755400 firstname.lastname@example.orgPR Contact Tom Zeller Phone: +49 69 264867715 / Cell phone: +49 176 10430063 email@example.com
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 has 41 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.
06.04.2018 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.deLanguage: 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: IR@corestate-capital.com 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