DGAP-News: Corestate subsidiary STAM Europe launches joint venture in logistics and light industrial

Corestate subsidiary STAM Europe launches joint venture in logistics and light industrial

• Second investment program with North American institutional investor
• €250 million for a diversified portfolio
• Focus on assets with potential to add value

Paris, July 29, 2020. - STAM Europe, a subsidiary of real estate investment manager Corestate Capital Holding S.A., and a North American institutional investor launch their second investment program in the logistics and light industrial sectors in France in the form of a joint venture - Highlands II. The objective of the partnership is to deploy approximately €250 million to create a diversified portfolio of logistics and light industrial assets in established and mainly urban areas.

Lars Schnidrig, CEO of Corestate: "Logistic real estate is currently one of the most sought-after asset classes. With the acquisition of the first property and its already well-filled deal pipeline, STAM once again demonstrates its excellent access to the very attractive French real estate market."

The targeted assets should offer the potential to add value, either through rental reversion or through the implementation of CAPEX programs. The strategy will target existing and leased assets as well as development projects with leasing risk in attractive areas. STAM Europe will act as Investment and Asset Manager on behalf of the joint venture.

Edward Bates, CEO of STAM Europe: "We are pleased to deploy this new strategy with our North American institutional partner. We are convinced that the logistics sector, and particularly urban logistics, presents opportunities and value creation potential that we wish to capture in order to generate strong cash-on-cash and attractive returns for the risk taken."

As part of this new strategy, Highlands II finalized the acquisition of a 62,000 sqm logistics platform fully leased to Renault in Basse Ham in eastern France from AXA IM - Real Assets acting on behalf of their clients. The joint venture carries on its investment program with approximately €125 million of investment opportunities now under exclusivity.

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Jorge Person
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Mario Groß
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About CORESTATE Capital Holding S.A.

CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and coinvestor with around EUR 28 billion 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, e.g. in Frankfurt, London, Paris, Madrid, Zurich and Amsterdam. The company employs around 800 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Further information may be found 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 www.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.