Corestate acquires prestige project "Fünf-Häuser-Quartier" in Dreieich (near Frankfurt) for Stadtquartier fund

• Currently the most important urban development project in Dreieich
• Approx. EUR 43 million purchase price and around 8,200 m² total rentable space
• Corestate Group responsible for the fund, investment and asset management

Frankfurt, February 2, 2022. Corestate has acquired the prestigious "Fünf-Häuser-Quartier" project known as "Neue Mitte" in the centre of the Dreieich district of Sprendlingen (near Frankfurt) for its open-ended special AIF "Stadtquartiere I" for around EUR 43 million. The institutional fund, which was launched at the beginning of 2021, invests in urban development-relevant properties in the centres of German medium-sized and large cities that enhance the quality of the respective location. The target volume of the fund is approximately EUR 500 million. Corestate is responsible for investment and asset management, with its subsidiary Hannover Leasing acting as in-house KVG. The seller and project developer is Schoofs Immobilien GmbH Frankfurt.

The quarter meets the KfW Efficiency House 55 standard and comprises around 8,200 m2 of residential and commercial rental space with a good mix of 53 flats, local supply areas, offices, practices and restaurants. Sparkasse Langen-Seligenstadt, Rossmann and denn's Biomarkt have already been confirmed as anchor tenants, the gastronomy areas are about to be let and demand for the flats is high. Completion is expected in the spring of 2022.

Blank Real Estate facilitated the transaction. Legal advice on the buyer's side was provided by LPA-GGV.

Press contact

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

Investor Relations contact

Thomas Fritsche
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 € 27 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 850 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 and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 11 countries across Europe, with offices in Frankfurt, Vienna, Zurich, Paris, Madrid and London. Please visit www.corestate-capital.com for further information.

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