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2018‑10‑04

CORESTATE acquires UK's largest independent student accommodation provider and continues on growth c ...

CORESTATE acquires UK's largest independent student accommodation provider and continues on growth course

10/04/2018

DGAP-News: CORESTATE acquires UK's largest independent student accommodation provider and continues on growth course

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Takeover

04.10.2018 / 08:56
The issuer is solely responsible for the content of this announcement.


 

CORESTATE acquires UK's largest independent student accommodation provider
and continues on growth course

  • Establishment of a market-leading European micro-living platform
  • Number of beds in the micro-living segment almost quadruples to more than 30,000
  • CORESTATE's assets under management increase by EUR 3 billion to EUR 25 billion
  • Continuous expansion of stable revenue base
  • Financing of the transaction entirely from free cash flow

CORESTATE Capital Holding S.A. (CORESTATE), a leading European investment manager for real estate, acquires CRM Students Ltd. (CRM), the largest independent student accommodation management company in the UK, for approximately EUR 17 million. Thus, CORESTATE's assets under management increase from EUR 22 billion to EUR 25 billion. The acquisition has been financed entirely from CORESTATE's free cash flow.

"We are aiming to become Europe's leading provider for micro-living and student accommodation, a market that is growing dynamically. We are already holding the top position in Germany. By acquiring CRM, we are bringing a prominent international partner on board," says Dr. Michael Bütter, CEO of CORESTATE. "CRM will become part of our multi-boutique platform, granting us market entry in the UK. Furthermore, the comprehensive expertise in international student accommodation operations will open up additional synergies. Through CRM's project pipeline, we will gain access to additional investment opportunities in interesting European university cities. By using these opportunities, we want to continue our growth."

"CRM is a highly professionalised real estate manager in the micro-living segment and maintains a broad and attractive customer base. With their specialised business model, CRM delivers stable, long-term and predictable profit contributions, and perfectly rounds off the sustainable revenue structures of our business model. Already today, clearly above 80% of our revenues are recurrent in nature," Bütter adds.

CORESTATE expands its micro-living offering to an attractive market

With 23,000 beds and 145 locations, CRM is by far the largest independent student accommodation management company in the UK, a market offering very attractive growth opportunities. This year, the company anticipates sales at approximately EUR 13 million and an EBITDA of approximately EUR 2 million.

CRM advises customers such as universities as well as institutional and semi-professional investors from the concept stage of a project to marketing and the long-term management of real estate assets. CRM thereby ideally complements CORESTATE's existing micro-living offering - both in terms of regions and concepts.

CORESTATE is the market leader in micro-living investments in Germany. Under the brands YOUNIQ, LinkedLiving and Upartments, the company is playing an active role in the student accommodation, serviced-apartments and business-apartments segments. It covers the entire range of real estate investment services, from acquisition and sales, financing and property development to professional management.

Increase in international expertise in the student accommodation segment

CORESTATE acquires CRM from founder Keith White and a group of private investors. CEO Stewart Moore and his management team will continue to lead CRM's business activities and will play a key role in further developing CORESTATE's European platform, while Keith White will, as Non-Executive Chairman, further contribute his network and his many years of expertise in student accommodation to CORESTATE.

Apart from the location, operator quality is the decisive success factor in the micro-living segment. By acquiring CRM, CORESTATE has significantly boosted its service profile in the international student accommodation segment. CORESTATE unifies broad asset management competencies with a strong expertise in property management for an effective national and international asset marketing, thus ensuring high utilisation rates.


PR Contact
Andre Zahlten
Phone: +49 69 3535630-108 / Cell phone: +49 174 4022348
andre.zahlten@corestate-capital.com

IR Contact
Dr. Kai Gregor Klinger
Phone: +49 69 3535630107 / Cell phone: +49 152 22755400
ir@corestate-capital.com

 

About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately EUR 25bn in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate 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 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 900 people and is listed in the regulated market (SDAX) of the Frankfurt Stock Exchange. Further information is available at www.corestate-capital.com.

Forward-Looking Statements
This press release may contain 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 situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.



04.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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2018‑09‑06

Corestate Capital Holding S.A.: CORESTATE expands management team ...

Corestate Capital Holding S.A.: CORESTATE expands management team

09/06/2018

DGAP-News: Corestate Capital Holding S.A.: CORESTATE expands management team

DGAP-News: Corestate Capital Holding S.A. / Key word(s): Change of Personnel

06.09.2018 / 07:30
The issuer is solely responsible for the content of this announcement.


CORESTATE expands management team

CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor based in Luxembourg, continues its growth course and has expanded its management capabilities.

Dirk Lembke has joined the management board of UPARTMENTS Real Estate GmbH, CORESTATE's micro living unit, in August 2018. He previously served for nine years at ATOS Asset Management GmbH, responsible for investment and controlling. With 20 years' experience in project management and controlling in the property industry, Lembke has a profound knowledge of due diligence, asset management and maintenance. At UPARTMENTS, he is mainly responsible for the development of the YOUNIQ brand. Lembke studied industrial engineering at HTWK Leipzig and has an MBA in Real Estate Management from BBA (Berlin-Brandenburger Akademie der Wohnungswirtschaft).

At CORESTATE's business unit Commercial, Dr Ralf Klann started on 1 September as a Managing Director. He heads up the unit alongside Dr Michael Hermes and Tobias Gollnest. Together with Hermes, he will be head of Asset Management Commercial. Over the past three years, he served as Managing Director at Apleona (the former Bilfinger Real Estate) in Frankfurt where he was responsible for the strategic development of the company as well as portfolio, asset and transaction management. Further stations include the Abu Dhabi Investment Authority (ADIA), JP Morgan Chase bank and Morgan Stanley. Klann looks back on over 25 years of experience in the real estate industry.

The third addition, also started on 1 September, is Kathrin Aigner as Chief Compliance Officer for the entire CORESTATE Capital Group. She previously worked as a lawyer with a focus on real estate at international law firm Hogan Lovells International LLP. The attorney has long-time experience in compliance, data protection and transaction issues in several international corporate law firms and also served as Chief Compliance Officer, Data Protection Officer and Head of Legal at various international companies. Aigner is admitted to the bar as a lawyer in Germany, England & Wales and the US (New York and US Supreme Court) and is a certified Compliance Officer and certified Data Protection Officer. Executive Director Chief Risk Officer Andreas Wahl-Ulm, the former Chief Compliance & Risk Officer at CORESTATE, will now focus on risk management and corporate data protection.

 

IR Contact
Dr. Kai Gregor Klinger
Phone: +49 69 3535630107 / Cell phone: +49 152 22755400
ir@corestate-capital.com

PR Contact
Andre Zahlten
Phone: +49 69 3535630-108 / Cell phone: +49 174 4022348
andre.zahlten@corestate-capital.com

About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately EUR 22bn in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has41 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 600 people and is listed in the regulated market (SDAX) of the Frankfurt Stock Exchange.
Further information is available at www.corestate-capital.com.

Forward-Looking Statements
This press release may contain 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 situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

 



06.09.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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