Corestate, a leading European real estate investment manager, has launched a new open special AIF for residential and commercial real estate. The “Corestate Opportunity Deutschland I” fund is primarily aimed at institutional investors. The investment focus is on properties with a potential of value increase by active asset management. The special AIF has a target volume of €800m and aims at a target return of 7 per cent.
The fund has already started with an initial portfolio of seven properties with an investment volume of €241m, which was financed by equity capital of €130m already raised. The properties are located in Augsburg, Hanover and Munich, among other places. Further properties are to be purchased, which will provide a constant rental income and which furthermore offer additional development potentials. The current market values of the properties in the seed portfolio, amounting to €262m, show the great value creation potential of the first investments. The aim is to increase further potential, reduce vacancies and generate attractive income through sales.
“With the new fund, we are adding another attractive option to our product range for institutional investors. We are thus specifically expanding our product range in order to meet as many investment and risk needs as possible. With our ever-increasing range of funds, we are generating further growth and at the same time putting our revenue structure on an even broader and more solid footing,” says Dr. Michael Bütter, CEO of Corestate Capital Group.
• Open special AIF for residential and commercial real estate
• Target volume of €800m with a target return of 7%
• Start-up portfolio with an investment volume of €241m available
• €130m in equity already raised