Corestate Capital obtains investment and asset management mandate worth €687m
Today, CORESTATE Capital Holding S.A. (CORESTATE), an investment manager and co-investor headquartered in Luxembourg – through companies administered by CORESTATE – has signed notarized agreements concerning a significant asset management mandate and the sale of retail portfolios to Universal-Investment funds of the Bayerische Versorgungskammer (BVK). The investment vehicle will be administered by Universal-Investment-Luxembourg S.A.
CORESTATE shall be instructed with the asset management. With a value of EUR 687m, the existing portfolio comprises a total of 90 properties in German cities and consists of sub-portfolios acquired as part of CORESTATE’s club deal program.
The transaction is subject to the approval by the Federal Cartel Office.
Source: CorestateCapital Group