Swiss private equity group Corestate said on Tuesday that it has acquired 2,300 residential units in an off-market deal with European energy group, E.ON.
Swiss private equity group Corestate said on Tuesday that it has acquired 2,300 residential units in an off-market deal with European energy group, E.ON.
The portfolio has a market value of around EUR 60 mln and is located in the Hanover/Braunschweig region in Northern Germany. The parties have agreed to keep the sales price confidential.
'The sale of property portfolios which are outside the core business of large corporations and other institutions is a trend we are increasingly seeing in the market,' said Thomas Landschreiber, COO of Corestate Capital.
Based in Zug/Switzerland, Corestate has offices in Frankfurt, Essen, London and Luxembourg. The business has invested EUR 2 bn in the real estate market both through direct and indirect transactions.
