DGAP-News: Corestate to manage complex project financing of the purchase and development of the 'FÜRST' project in Berlin

Corestate to manage complex project financing of the purchase and development of the "FÜRST" project in Berlin

• Acquisition of the FÜRST Project by Aggregate is one of the largest real estate transactions of the year
• EUR 1.02 billion financing volume for purchase and development
• AFS, which will in future operate under the name "Corestate Bank", was the sole agent for structuring and placement
• Corestate completed the acquisition of AFS in May

Frankfurt, 11 June 2021 - Corestate subsidiary AFS (Aggregate Financial Services GmbH), which shall be operating on the market as "Corestate Bank" in the future, has financed the acquisition and development of Berlin's FÜRST Project on Kurfürstendamm by Aggregate Holdings S.A. This is one of the largest real estate transactions of the year in Germany with a financing volume for acquisition and development of EUR 1.02 billion. AFS structured and placed the financing as the sole global coordinator and sole agent, demonstrating its capabilities. Corestate, a leading independent real estate investment management firm in Europe, completed the acquisition of AFS only two weeks ago.

René Parmantier, CEO of Corestate: "The financing impressively demonstrates what Corestate is capable of delivering. The acquisition of AFS at the beginning of this year was the right strategic decision, which is already bearing fruit after such a short period of time. The market for real estate private debt offers us considerable opportunities due to the increasing regulatory requirements for banks, which we intend to and will use with the future "Corestate Bank" as a financing platform for the entire real estate life cycle."

Sebastian Ernst, co-founder of AFS and Management Board member at Corestate: "We were able to finance the acquisition and development in one go and thus support our client very quickly and in line with their needs. This was primarily the result of combining our forces. We have entered a new dimension with this transaction." Johannes Märklin, likewise a founder of AFS and a member of the Management Board of Corestate, added: "Structuring and placing such a complex transaction requires excellent market access to institutional investors and banks and many years of expertise. This is exactly what we and our team stand for and why we were able to act as sole agent and adviser."

Press contact

Jorge Person

T: +49 69 3535630-136 / M: +49 162 2632369
[email protected]

Investor relations contact

Mario Groß

T: +49 69 3535630-106 / M: +49 162 1036025
[email protected]

About CORESTATE Capital Holding S.A. (CORESTATE)

CORESTATE is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability - trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At CORESTATE, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, CORESTATE offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. CORESTATE is listed on the Frankfurt Stock Exchange (SDAX) and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 13 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London. Please visit www.corestate-capital.com for further information.

Forward-looking statements

This press release may contain certain 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 position, development or performance of the Company and the estimates given here. These factors include those described in published reports. These reports are available on our website www.corestate-capital.com. The Company assumes no obligation whatsoever to update these forward-looking statements or to conform them to future events or developments. No inappropriate significance should be attached to forward-looking statements, which apply only to the date of this communication.