DGAP-News: Corestate's next step in enlarging the European micro living product: Opening in Gdansk

Corestate's next step in enlarging the European micro living product: Opening in Gdansk

- Initially 217 beds handed over to be operated by a JV with Bain Capital Credit

- First students have already moved in

Frankfurt, October 2, 2020. CORESTATE Capital Group (Corestate), a leading independent real estate investment manager in Europe, has partially opened its first micro living asset in Poland. As an initial step, 217 beds in Gdansk are now available and the first students have already moved in. This marks another important step in the company's strategy to enlarge its student housing footprint in Europe.

Lars Schnidrig, CEO Corestate: "Our micro living approach focusses on student apartments in Western and Continental Europe - and Gdansk with its reputable universities as well as a high number of foreign students is considered iconic for our strategy of enlarging our portfolio with sound judgement. Thus, we prepare ourselves, also as a result of the COVID-19-pandemic, for a rising number of students and their increasing demand for contemporary accommodation."

The asset in Gdansk, located between the historical old town and various university campuses, is planned to be finished by end of this year with 409 beds across a total net lettable area of more than 6,000m² and is then owned by the first JV of Bain Capital Credit and Corestate. In addition to the student rooms, a lobby and lounge area are available, as well as a kiosk, several community spaces including a shared kitchen, a washing lounge, a gym and a TV and gaming room.

Press and Investor Relations contact:
Mario Groß
T: +49 69 3535630-106 / M: +49 162 1036025
[email protected]

About CORESTATE Capital Holding S.A.

CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with more than Euro 28 billion in assets under management. As a fully integrated real estate platform, CORESTATE offers its customers combined expertise in the areas of investment and fund management as well as property 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 additional offices in Frankfurt, London, Paris, Madrid, Zurich and Amsterdam, among others. The company employs around 800 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. 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.