Corestate acquires Trophy city quarter in Nuremberg from Gerchgroup for Bayerische Versorgungskammer

• Former Quelle area "The Q" is one of the largest district developments in Germany
• Attractive risk/return profile in the "core" segment with a combination of residential and commercial uses
• Reference building for the new product focus on urban districts, pipeline filled with numerous projects
• City of Nuremberg to rent approx. 42,000 m² of office space for 25 years

Frankfurt, September 18, 2020. CORESTATE Capital Group S.A. (Corestate), a leading independent real estate investment manager in Europe, has acquired the main part of the Trophy city quarter development "The Q" in Nuremberg for an institutional investment mandate from Bayerische Versorgungskammer (BVK). The property will be developed into one of the most modern urban districts in Germany by the Düsseldorf-based seller, Gerchgroup. The investment volume of this forward deal amounts to over EUR 300 million. Corestate is consistently expanding its new product focus on city quarters and intensifying its investment activities in the "core" segment. The Gerchgroup will complete the project starting next year and hand it over to the buyer after completion.

Lars Schnidrig, CEO of Corestate Capital Group: "This urban district development is currently one of the largest in Germany and is a good example of new types of use of city building sites in top locations in combination with the increasing demand for innovative mixed-use concepts for housing, infrastructure and commerce on the customer side. Here we develop sustainable and profitable investment solutions for our institutional clients on the basis of our excellent product access to large real estate projects in A-cities and our very broad experience in active asset management. Due to the megatrend urbanization and the associated densification in the metropolitan areas, the asset class of urban districts will continue to gain in importance and we will actively participate in shaping the modern living and working space in German cities with further exciting projects from our pipeline."

"A sale of this magnitude in these turbulent times is proof that quality always prevails in the end and we are very pleased that we have succeeded in selling the first construction phase of this quarter development despite the circumstances," said Marc K. Thiel, CEO of the Gerchgroup. The other building plots of the overall project with nearly 200,000 m² of gross floor area that are mainly being developed for residential use, are also to be sold upon completion.

In total, the property, which for many years was the showcase location of the Quelle mail order company, comprises more than 51,000 m² of rental space, of which the City of Nuremberg will rent approx. 42,000m² for 25 years. The remaining space will be leased to retailers in the food and local supply sectors on a long-term basis. The completion of the project is scheduled for 2024, with around 2,000 residential, additional retail and gastronomy units and a day care center for children planned in three further construction phases.

Press contact
Jorge Person
T: +49 69 3535630-136 / M: +49 162 2632369
jorge.person@corestate-capital.com

Investor relations contact
Mario Groß
T: +49 69 3535630-106 / M: +49 162 1036025
ir@corestate-capital.com

About CORESTATE Capital Holding S.A.

CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with more than Euro 28 billion in assets under management. As a fully integrated real estate platform, CORESTATE offers its customers combined expertise in the areas of investment and fund management as well as property 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 additional offices in Frankfurt, London, Paris, Madrid, Zurich and Amsterdam, among others. The company employs around 800 people and is listed in the Prime Standard (SDAX) of the Frankfurt Stock Exchange. Please visit www.corestate-capital.com for further information.

About GERCHGROUP

The GERCHGROUP is a project developer based in Düsseldorf that operates all over Germany. The company was founded by Mathias Düsterdick (CEO) and Christoph Hüttemann (CEO) at the end of October 2015, after both had previously sold their shares in the PDI Group. The GERCHGROUP currently realizes a total project development volume of around EUR 5 billion. Further project acquisitions are planned in the near future.

Contact / Information:

Götz Baumgärtner
GERCHGROUP AG
Cecilienpalais
Emmericher Straße 26
40474 Düsseldorf
+49 (0) 211 30 18 15-0
info@gerchgroup.com
www.gerchgroup.com

About Bayerische Versorgungskammer

As the largest public service group in Germany, Bayerische Versorgungskammer ("Bavarian Pension Chamber") is a service and competence center for professional and municipal pension schemes. It manages the business of twelve legally independent professional and municipal pension schemes with a total of around 2.4 million insured persons and beneficiaries, EUR 5.0 billion in annual contribution and pay-as-you-go income and around EUR 3.6 billion in annual pension payments. It manages an investment volume of currently around EUR 81.7 billion (book value) for all institutions combined. Bayerische Versorgungskammer employs over 1,350 people and has been a signatory to the Diversity Charter since 2010, a signatory to the UN Principles for Responsible Investment (PRI) since 2011 and a signatory to the Memorandum for Women in Leadership since February 2017.

Über UNIVERSAL-INVESTMENT

With fund assets of around EUR 528 billion under administration, thereof EUR 400 billion in own vehicles and around EUR 128 billion in, inter alia, insourcing, well over 1,500 mutual and special investment mandates and a workforce of around 750, Universal-Investment is the largest independent investment company in the German-speaking region. With the acquisition of UI labs in January 2019, the industry-leading IT data specialist now completes the Group's service portfolio by adding front office and data solutions. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. Founded in 1968, the Universal-Investment Group is headquartered in Frankfurt/Main and has subsidiaries, branches and holdings in Luxembourg, Poland and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2020 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment ranks second (as of July 31, 2020). More information available at: www.universal-investment.com

Forward-looking statements

This press release may contain certain 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 position, development or performance of the Company and the estimates given here. These factors include those described in published reports. These reports are available on our website www.corestate-capital.com. The Company assumes no obligation whatsoever to update these forward-looking statements or to conform them to future events or developments. No inappropriate significance should be attached to forward-looking statements, which apply only to the date of this communication.