Corestate Acquires German Mixed-Use Asset
Switzerland-based Core-state Group has acquired the 14,000-square-metre Rund Carré, a mixed-use property in Hannover, from HSBC Trinkaus Real Estate GmbH for €25.5 million. The fully let property includes 8,377 square metres of office space let to large German corporates and 5,623 square metres of retail space.
In other news, Corestate has sold a German residential portfolio for €39 million to Zentral Boden Immobilien AG. The portfolio comprises 894 apartments in Berlin’s Britz and Rudow districts, totalling more than 48,000 square metres of lettable space that generates a monthly rent of between €5 and €6 per square metre.