Frankfurt am Main, 7 December 2023Â -- CORESIS Management GmbH, a company of Frankfurt-based aam2core Holding AG that specialises in real estate investments for institutional and wealthy private investors, has acquired an ensemble of buildings in the centre of Magdeburg for a fund of Universal Investment's fund service platform. The long-term main tenants include the state of Saxony-Anhalt, Domgymnasium Magdeburg and Postbank AG. The seller is a property fund based in Luxembourg. The parties have agreed not to disclose the sale price.
The ensemble of buildings built between 1895-1899 in the centre of the state capital consists of four main and ancillary buildings with a total rental area of 32,000 m2 and is partially listed as a historical monument. The former Reichspost building was converted into a justice centre in 2006-2009 and has since been the official seat of the Magdeburg public prosecutor's office, the Magdeburg Administrative Court and the Higher Administrative Court of Saxony-Anhalt, among others. In the same year, a new building was added and the existing buildings were extensively renovated. The building complex is almost fully let.
"With the acquisition in the centre of the state capital of Saxony-Anhalt, we have gained a landmark property for the portfolio that proves that historic buildings can go hand in hand with very good energy properties," says Johannes Marstaller, Executive Director - Head of Commercial Investments at aam2core.
Michael Ruhl, Managing Director of CORESIS Management GmbH, adds: "The property fits perfectly into the investment strategy of the fund specialising in German municipal real estate, which we have reclassified since 1 December 2023 in accordance with Article 8 of the Disclosure Regulation."
The Art. 8 fund initiated by CORESIS Management GmbH and launched on the Universal Investment platform for institutional investors invests in attractive German office and administrative buildings that are let to state or municipal users. The CO2 emissions of all fund properties must be below the CRREM pathway with the 1.5° target. Two properties were acquired for the fund in 2023.
The building ensemble is located in the centre of Magdeburg. It is connected to local public transport via a stop in the immediate vicinity, which makes it very easy to reach the entire city centre. The main railway station is just 300 metres away, providing a direct connection to long-distance transport. There are also several multi-storey car parks in the immediate vicinity.
GSK Stockmann provided legal advice to the buyer and Witte PM provided technical advice as part of the off-market transaction. Rödl&Partner also provided tax support. The transaction was brokered by Avision Young.
About aam2core Holding AG
aam2core is a property investment manager for residential, office and logistics/light industrial properties for institutional and non-institutional investors. The subsidiary CORESIS - BaFin-registered KVG - acquires and manages office properties for (semi-)professional investors in direct mandates and seven special fund solutions. In total, investment assets totalling EUR 3.35 billion with an area of 1.675 million m² are managed by approx. 80 employees. aam2core invests in Germany and Austria. The head office is in Frankfurt am Main with branches in Berlin, Bad Homburg, Dusseldorf, Grunwald and Leipzig. The Management Board of aam2core Holding AG consists of Stefan de Greiff, Professor Dr Nico B. Rottke and Michael Schleich.
About CORESIS Management GmbH
CORESIS is an owner-managed property investment company for very wealthy private and institutional investors based in Bad Homburg. The company is part of aam2core Holding AG. For its clients, CORESIS focuses on generating attractive risk-adjusted returns through German property investments.
About Universal Investment
The Universal Investment Group is one of Europe's leading fund service platforms and Super ManCos with around 964 billion euros in assets under management, over 2,200 fund and investment mandates and more than 1,700 employees in Frankfurt am Main, Luxembourg, Dublin, London, Paris, Stockholm, Hamburg and Krakow. Founded in 1968, the company is an independent platform offering fund initiators and institutional investors structuring and administration solutions as well as risk management for securities, property and alternative investments. The company is a signatory to the UN Principles of Responsible Investment and a member of Forum Nachhaltige Geldanlagen e. V. (as at: October 2023)
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Press release from 07/12/2023
Süheda Zock Marketing Manager investor-relations@aam2core.com