Corestate: Investments in Germany
Corestate Capital Holding reports the purchase of 24 separate retail properties in prime shopping locations in pedestrian zones of German mid-sized cities.
The properties, located in Dresden, Essen, Heilbronn and Kaiserslautern, among other cities, were acquired in individual transactions and assembled into a new portfolio, Corestate says.
The properties cover a total area of just under 90,000 sqm and are reportedly characterized by a high degree of diversification in terms of locations, property types and tenants. Anchor tenants include H&M, Müller, REWE and Snipes.
New addition from Union Investment
To strengthen the acquisition side and to expand investor contacts, Philip La Pierre will be appointed Co-Chief Investment Officer as of November 1, 2017. He will report to co-founder and Chief Investment Officer Thomas Landschreiber.
Philip La Pierre was previously Head of Investment Management Europe at Union Investment Real Estate. He started there in 2009 as Head of Investment & Asset Management Germany. Before joining Union Investment, the lawyer was Head of Transactions Germany for ING Real Estate until 2009. Prior to that, La Pierre worked for several years as an investment manager at Credit Suisse.
