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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
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Zug's Corestate buys 4,700 German apartment portfolio
Zug-based private equity group Corestate Capital has acquired a portfolio of 4,700 apartments located mainly in western Germany from Luxembourg's BGP Investment, a firm that originated as a joint venture between Australian firms Babcock & Brown and GPT. No price was given but the firms said the portfolio comprises over 300,000 sq.m. of lettable space and currently carries some E150m of debt financing. (See upcoming PIE/PFE editions for full story)