12.12.2018 08:34:37

Corestate Capital Holding S.A.: CORESTATE enters into exclusive partnership with MEDICI LIVING, Europe's leading co-living provider


DGAP-Media / 12.12.2018 / 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.
 
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.

12.12.2018 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, Financial/Corporate News and Press Releases.
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  12.12.2018 

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