Swiss real estate investor Corestate Capital has completed the sale of a German residential property portfolio for around 鈧�135 mln.
Swiss real estate investor Corestate Capital has completed the sale of a German residential property portfolio for around 鈧�135 mln.
The assets were sold to various institutional and private investors as part of a repositioning programme.
The portfolio comprises 2,100 residential units spread across 12 German states. Corestate originally acquired the portfolio in a distressed state and has since repositioned it by investing capital in asset management activities.
'Extremely scattered portfolios represent a welcome challenge for us,' commented Thomas Landschreiber, chief operating officer at Corestate. 'With asset management activities we can accomplish value increases as well as solid and long-term rental income. We will continue to create products for our investors, which can serve the high level of demand for stable German real estate.'
Corestate is an independent and management-owned investor and asset manager, with offices in Zug, Frankfurt, Essen, London, Singapore and Luxembourg.
