Corestate Capital AG strengthens its market position in Germany (DE/CH)

Corestate Capital AG has acquired 1.640 residential units with a volume of €58 million in Germany.

The acquisitions are split into 6 portfolios in Frankfurt/Main, Hanover, Leipzig and Erfurt. The net yield of the portfolios ranges between 8.5% and 9.5%. The vacancy rate is at 10%.

The current valuation of the acquired portfolio (NAV) is approximately 21% above the actual purchase price, including all ancillary costs. The acquisitions are financed through the investments of the Coreestate German Residential, a fund managed by Corestate Capital in Zurich, with a planned volume of €2.5 bn.

Source: Corestate Capital

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