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DGAP-Media / 2018-12-12 / 08:34
*CORESTATE enters into exclusive partnership with MEDICI LIVING,
Europe's leading co-living provider*
? *Entry into the fast-growing Co-Living segment *
? *Planned expansion of a portfolio worth EUR 1 billion*
? *Investment volume of EUR 20 to 60 million per property*
? *Securing attractive, high-growth revenue structures*
December 12, 2018: CORESTATE Capital Holding S.A. (CORESTATE), a leading
European real estate investment manager, is expanding its Micro Living
offering to include the fast-growing Co-Living segment. CORESTATE has
entered into an exclusive partnership with the MEDICI LIVING Group,
Europe's largest provider of innovative co-living concepts.
Under the QUARTERS brand, the MEDICI LIVING Group operates co-living
spaces for creative people, young professionals and founders worldwide,
including in New York, Amsterdam and Berlin. Its units offer users modern
design, smart technology, spacious communal areas and regular events.
The cooperation plans to build a co-living portfolio worth EUR 1 billion
across Europe within five years with investor money. As part of the
cooperation, CORESTATE will identify, acquire and develop for its clients
ideal sites and properties. The focus will be on cities in the
German-speaking countries, Spain and Eastern Europe, with over 500,000
inhabitants and real estate with an investment volume of EUR 20 to 60
million. Several properties are already in the pipeline for the new
product line. CORESTATE will benefit from its good market access and many
years of experience in the micro living sector.
As part of the cooperation, MEDICI LIVING Group will prepare feasibility
studies, support CORESTATE in property planning and design and fully
assume operation. CORESTATE is securing long-term, high-growth revenue
structures for itself and continuing to expand its market position in the
trending area of "urban living."
"Together with MEDICI, we want to play a leading role in shaping the
co-living market in Europe. Co-living properties optimally complement our
current product range in the micro-living sector. It is a new, rapidly
growing residential segment that covers millennials' rental requirements.
They are looking to exchange ideas with like-minded people in a modern
living space and experience community, no matter in which metropolis they
are currently working. Our investors will also benefit from this trend.
Through us, they have the opportunity to invest in a unique product range
in the micro-living sector at European level," says Thomas Landschreiber,
CIO and co-founder of CORESTATE.
Gunther Schmidt, founder and CEO of MEDICI LIVING Group, adds: "This
partnership is the breakthrough for co-living in Europe". Gunther Schmidt
sees even greater potential for the new asset class than for co-working.
"The residential real estate market is much larger than that for office
real estate," he adds. "We are building the WeWork of co-living and
CORESTATE's investors can participate in it."
*IR Contact*
Dr. Kai Gregor Klinger
T: +49 69 3535630107 / M: +49 152 22755400
ir@corestate-capital.com
*PR Contact*
Andre Zahlten
T: +49 69 3535630-108 / M: +49 174 4022348
andre.zahlten@corestate-capital.com
*About CORESTATE Capital Holding S.A.*
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and
co-investor with approximately EUR 25bn 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 42 offices
including in Frankfurt, London, Madrid, Singapore and Zurich. The company
employs over 730 people and is listed in the Prime Standard (SDAX) of the
Frankfurt Stock Exchange.
Further information is available at www.corestate-capital.com [1].
*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.
End of Media Release
Issuer: Corestate Capital Holding S.A.
2018-12-12 Dissemination of a Press Release, 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,
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Archive at www.dgap.de
Language: 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 Media
756985 2018-12-12
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=38751e2f663f4d4fb04067870e000bf8&application_id=756985&site_id=vwd&application_name=news
(END) Dow Jones Newswires
December 12, 2018 02:34 ET (07:34 GMT)
