DGAP-News: Corestate manages turnaround of 'Exupéry10' at Frankfurt Airport through repositioning and successful leasing

Corestate manages turnaround of "Exupéry10" at Frankfurt Airport through repositioning and successful leasing

• Leases for 6,700 m² signed
• Prime location in Global Business Village Gateway Gardens (Frankfurt Airport)
• Long-standing professional asset management makes property more crisis-resistant

Frankfurt, February 15, 2022. Corestate has successfully managed the turnaround of the Exupéry10 office building in the Global Business Village Gateway Gardens despite the challenging environment caused by the COVID-19 pandemic. The core property with a gross lettable area of 16,000 m², which is located right next to Frankfurt International Airport and has a Gold certificate from the German Sustainable Building Council (DGNB), was restructured and repositioned from single-tenant to multi-tenant use. This was followed by the signing of new leases covering 6,700 m² over the past year and a half, meaning that the building, which is managed by Corestate subsidiary Hannover Leasing, is now almost fully let. Long-term leases were agreed with a medical technology manufacturer (2,000 m² of office space), two airlines (1,200 m² and 1,000 m²) and an IT service provider (2,500 m²).

The new tenant mix is largely crisis-resistant and offers excellent returns. The more efficient use of space and new functionalities mean that the office building also meets the high demands on tomorrow's modern and sustainable working environments. Completed in 2011, the property was acquired in the same year by a closed-end fund structured by Hannover Leasing, which has successfully taken charge of the building as asset manager since then. In the course of its leasing activities, Corestate was advised by Colliers International Deutschland GmbH.
 

Pressekontakt
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com

Investor Relations Kontakt
Thomas Fritsche
T: +49 69 3535630-106 / M: +49 162 1036025
ir@corestate-capital.com

About CORESTATE Capital Holding S.A. (CORESTATE)
CORESTATE is an investment manager and co-investor with around  27 billion in assets under management (as of 31 Dec 2021). 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.
 
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.