CORESTATE invests €125 mln in retail properties in Germany
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated real estate investment manager and co-investor based in Luxembourg, announces the acquisition of 18 single and well located retail properties in prime locations in pedestrian zones of German mid-sized cities such as Göttingen, Kaiserslautern, Lörrach or Lüneburg.
The properties comprise more than 7,000 square meters and contain a highly diversified mix of locations, assets and well known tenants. Major tenants are inter alia C&A, depot, dm, H&M and s.Oliver.
Thomas Landschreiber, Chief Investment Officer of CORESTATE: “We have now closed six portfolios in our High Street retail strategy, bringing the overall investment volume to over EUR 1bn. The portfolio represents around 110 acquired properties with strong rental covenants. We see high potential in this market and will continue to pursue this strategy.”